Housing Market Update for Q1 2024 | NAR No Money | Zillow Lawsuit | AI Predictions

Explicit

As we approach the end of Quarter 1 of 2024, we take a look at current market trends surround the housing market. Federal Chairman Jerome Powell recently addressed congress March 7 indicating that there will be no change to high interest rates now until the economy reaches its inflationary target of 2%. However, Powell believes cuts are likely to happen at some point this year. Regardless of interest rates, there continues to be an over 7 million home shortage across the United States, which is causing housing prices to surge. Housing prices are directly effected by supply and demand. Great demand with lack of supply correlates to increased home prices. In addition, Arizona Regional MLS (ARMLS) and Metro MLS filed a motion to dismiss Zillow's antitrust lawsuit against them. Zillow alleges that the named MLS' were violating antitrust law by restri ...