Lennar and PulteGroup, leading homebuilders, have hit 52-week highs as investors anticipate a Federal Reserve rate cut. The expected rate reduction could further boost the already resurgent housing market, driven by lower mortgage rates and increased demand.
The U.S. housing market is projected to experience stability in 2024, with modest price increases and favorable conditions for homebuilders. While the Federal Reserve’s interest rate hikes have dampened buyer enthusiasm, a gradual rate decline could rekindle demand and revitalize the market. Experts predict continued home price growth, but at a slower pace than recent years, offering a more gradual increase for buyers.
