The National Association of Realtors (NAR) has released its Economic Outlook for January 2024, forecasting a significant increase in existing home sales for the year. The projection indicates a year-over-year growth of 13%, translating to a total of 4.62 million homes sold. This news suggests a positive market outlook and potential opportunities for both buyers and sellers in the real estate industry.

In related news, pending home sales have experienced an 8.3% increase, according to a report titled “Pending Home Sales Up by 8.3%.” This data indicates a growing demand for homes, as buyers are actively entering into purchase agreements. The rising demand and potential surge in home sales align with the NAR’s Economic Outlook projection, further supporting the notion of a thriving real estate market in 2024.

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