U.S. home prices will rise modestly this year and in 2027 as the market remains constrained by high mortgage rates and a shortage of affordable homes that will persist for years, according to housing analysts polled by Reuters.
Housing will not provide a boost to the slowing U.S. economy and there will be no near-term progress in the Trump administration’s aims to revitalize the market through cheaper mortgages, the Feb. 27-March 17 survey released on Tuesday suggested.
The Federal Reserve is increasingly likely to keep interest rates where they are for longer due to discomfort with inflation levels that were already running too high before the U.S. and Israeli war with Iran.
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Modest rise in home prices expected in Idaho and US through 2027