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March 2024
F I N A L T H O U G H T S
"plenty of competition"
Skylar Olsen, Zillow Chief Economist, on how buyers and sellers should prepare for potential bidding
wars as time on the market shrinks and competition for well-priced homes is expected to heat up.
"homebuyers taking advantage"
Lawrence Yun, Chief Economist for the National Association of Realtors, illustrating how
easing mortgage rates fueled January's jump in home sales, indicating the start of more
supply, demand, and housing competition.
"historic affordability challenges"
Rob Chrane, Founder and CEO of Down Payment Resource, discussing the costly challenges that
buyers and homeowners faced in 2023 and how the benefits of newly implemented buyer assistance
programs will further expand opportunities and break down barriers to homeownership.
"putting down roots"
Manny Garcia, a Senior Population Scientist at Zillow, revealing that while many Americans
are buying homes alone or co-buying, life events such as marriage often motivate even more
Americans to seek out homeownership.
"boosting buyer purchasing power"
Danielle Hale, Chief Economist for Realtor.com, explaining how mortgage rate drops last fall
contributed to an increase in buying power, as newly listed homes for sale rose in January, indicating
more home sellers are ready to make moves and jump back into the market.
FINAL THOUGHTS
In this month's Final Thoughts, experts discuss current homeownership trends,
homebuying power, the current state of mortgage rates and the housing market, the
ongoing demand vs. supply crisis, affordability hurdles, what's to come this year, and
how to further expand homeownership opportunities.
