As you can see from the quote above from Lawrence Yun, the favorable inflation reports are causing mortgage rates to start to come down. Experts expect this rate to be 5.75% by the end of 2024 and 5% by the end of 2025. The days of 3% are over, but 6% would be a welcome relief from the high of 8%!Prices are determined by supply and demand. Although the higher rates have caused some of the demand to go down, supply is still very low. What this means is that prices have remained stable, but the number of total home sales have come down. This is expected to turn around as we get relief in rates and more buyers are able to afford to buy, and more sellers are willing to let go of their home/low rate.Questions about how this may be impacting your house? I love to talk about this and would love to talk to you about it!