More favorable conditions in the housing market in the coming year should spark interest in buying in the younger generation, who have been paying rents that are rising faster than their incomes.
In addition to an increase in the number of first-time home buyers entering the market, other housing market trends expected in the coming year include a loosening in lending standards, a rise in the number of homes available, more affordable home prices, and mortgage rates not expected to climb above 5 percent.
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