Part 2: Current State of the Housing Market; Overview for mid-March 2024

Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-March 2024 I reviewed home inventory, housing starts and sales.

In Part 2, I will look at house prices, mortgage rates, rents and more - and review the house price outlook for 2024.

House Prices

The Case-Shiller National Index increased 5.5% year-over-year in December and will likely be slightly more positive YoY in January (based on other data).

The MoM increase in the seasonally adjusted (SA) Case-Shiller National Index was at 0.19%. This was the eleventh consecutive MoM increase, but the smallest increase since prices declined (SA) in January 2023.

In Question #9 for 2024: What will happen with house prices in 2024? I discussed my outlook for house prices in 2024. A review …