Summer could finally bring some good news for home buyers, experts say

by Leslie Cook, Money.com

Spring has come and gone, and despite high hopes for a rebound, the housing market remains in a slump. Will the dog days of summer finally bring change?

As of now, buyers and sellers face many of the same challenges they did this time last year: high interest rates, inflated list prices and near-record-low inventory. Still, signs point to more favorable conditions for buyers and sellers in the latter half of 2024.

Here’s how real estate experts predict the next few months will unfold.

Rising costs and election year uncertainty

One recent development on the radar of industry insiders is the ever-climbing cost of homeowners insurance. Home insurance expenses have already seen a double-digit increase over the past year, and as hurricanes, wildfires and other natural disasters continue to throttle large swaths of the U.S., they will likely keep rising.

 

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