Teri L. Pierce

NMLS # 279973

801-272-0600

teri@advancedfunding.com

Teri L. Pierce Mortgage Loan Advisor

The Housing Market Looks Promising in 2024

The Housing Market Looks Promising in 2024

Core consumer inflation inched lower in December, with shelter costs the main ingredient. The Core Consumer Price Index (CPI), which strips out volatile food and energy, fell to 3.9% year over year from 4.0% in November. Within the core numbers, it showed that shelter costs rose 6.2% annually. With two-thirds shelter making up Core CPI, there is a lot of reason to be optimistic that inflation is trending in the right direction - lower.

The takeaway... with inflation trending lower, active listings on the rise, and borrowing costs declining, 2024 could be shaping up to be positive for the housing market.