Real Estate Market Forecast: Opportunities for Home Buyers and Sellers in 2024 A growing share of home buyers and sellers sat on the sidelines last year as the pace of home sales continued its downward trajectory. 1 In fact, since the Federal Reserve began its series of interest rate hikes in 2022, the combination of higher borrowing costs and record-high home prices has fostered the steepest real estate market slowdown since the 2008 recession. 2 Priced out of the market, a generation of would-be buyers has been forced to delay their plans for homeownership. 3 At the same time, current owners—reluctant to give up their pandemic-era mortgage rates—are waiting to sell, which has resulted in a sharp drop in listings. 4 But there may be some relief in sight: In December, the Fed signaled that it was done raising interest rates—and suggested that it could cut rates by 0.75% over the coming year. While mortgages don’t directly follow the federal funds rate, they typically move ...