In 2023, it’s been off to the races as everyone pondered: What will climb higher, faster—mortgage rates or home prices? Typically, the two work inversely and help offset one another, but in an unprecedented circumstance, both mortgage rates hit record highs as housing prices continued to swell. However, nearing the end of 2023, the race’s direction seems to be slowing and taking a turn, as mortgage rates have trended downwards and quickly.
This series of events begs the question: Will real estate still be a worthwhile, inflation-proof investment in 2024? Short of shaking our Magic 8 Ball, we’ll look at informative statistics and review what experts expect moving forward. That way, you’ll be able to make an informed decision about whether to invest in real estate in the coming year. (Spoiler alert: It’s looking good, and you’ll soon see why.)
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