Housing prices are expected to continue rising as the economy recovers from the coronavirus pandemic. The demand for housing is expected to remain strong while the supply of homes is likely to remain limited. We may also see an increase in rent prices and the availability of rental units, as rents have remained low in recent years.
Inflation is expected to remain low, as has been the case since the coronavirus pandemic began. However, a slight increase in inflation is expected as the economy recovers, and the Federal Open Market Committee may adjust the federal funds rate to keep prices stable.
Interest rates are expected to remain low in the near term, as the Federal Reserve maintains its low rates in order to support a full recovery from the pandemic. However, in the long-term, interest rates could start to slowly rise as the economy strengthens, but it is not expected to reach pre-pandemic levels anytime soon.
The economy is expected to fairly solid heading into 2024, albeit slower growth than what we saw leading into the pandemic. The US economy is expected to experience a steady growth as businesses begin to recover and reopen. The rise of digital payment and e-commerce is also expected to continue, and we may see a large rise in businesses focusing on these kinds of products and services. Additionally, increased infrastructure spending and increased consumer confidence are expected to provide a boost to the economy.