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The runaway housing prices we’ve seen over the past few years in New Jersey should finally slow down in 2024, real estate experts say. And the market is expected to normalize.
Falling interest rates should lead to more houses being listed for sale, helping prices level out. Recent statements from the Federal Reserve indicate that inflation is slowing and interest rate cuts could start happening in March or June.
The real estate market could see changes by Memorial Day or in the second quarter of 2024, said Jeffrey Otteau, a real estate economist who heads the Otteau Group.
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