The housing market saw a surge due to the pandemic and low mortgage rates, but now faces challenges with rising interest rates and inflation. Bank of America economists predict a slow market until 2026 due to factors like the "lock-in effect" and affordability issues. Home prices are expected to rise slowly, with a potential dip in 2026. Despite some positive signs like improving credit conditions and millennial homebuying, affordability concerns remain a major obstacle for buyers. Careful planning and staying informed are crucial for navigating the market in the coming years.
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