Episode #951 Try Rent App, the free and easy way to collect rent: https://rent.app/landlord Housing prices won’t budge, but there could be some relief on the horizon for homebuyers. As America’s affordability crisis continues to strain consumers, one of the most considerable costs, housing, is much to blame. Rising mortgage rates are making monthly payments significantly more expensive than just a few years prior, but how long can this last? According to the Vice President of Enterprise Research Strategy at ICE, Andy Walden, not much longer. Every month, Andy’s team at ICE releases their Mortgage Monitor data reports, sharing valuable insights on what’s happening in the housing market. On this BiggerNews, we’re asking Andy to share what the data is telling him about home prices, mortgage rates, housing inventory, and buyer demand but, even more importantly, where we could be headed in 2024 and whether or not this hot housing market still has room to run. While there has been huge home price growth over the last few years, Andy reckons prices could begin to “soften” as affordability reaches its breaking point. With demand retreating from the market and housing inventory still on the rise, prices may start to decline, and even if interest rates do fall again, we may not see the uptick in demand many home sellers are waiting for. Stick around as we unpack exactly what’s moving the housing market with ICE’s Andy Walden! Start collecting rent for free with Rent App: https://rent.app/landlord ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Expand Your Investing Knowledge With the BiggerPockets Books: https://store.biggerpockets.com/?utm_source=owned_media ~~~~ Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch ~~~~ Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders ~~~~ Property Manager Finder: https://biggerpockets.com/findapm ~~~~ Hear Dave on The “On the Market” Podcast: https://link.chtbl.com/OTM ~~~~ Watch Dave on the “On The Market” YouTube Channel: https://www.youtube.com/channel/UCxDXuLvtjJ9Est8PrG3i2VA ~~~~ Hear Our Past Interviews with Andy: How the Housing Market Could Correct WITHOUT Home Prices Falling: https://www.biggerpockets.com/blog/on-the-market-115?utm_source=youtube&utm_medium=description&utm_campaign=none New Mortgage Report: Originations Plummet, Buying Power Wiped Out: https://www.biggerpockets.com/blog/on-the-market-152?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ BiggerNews: Housing Inventory Up 24%, Are We Returning to “Normal”? https://www.biggerpockets.com/blog/real-estate-925?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Grab the Mortgage Monitor Report: https://www.icemortgagetechnology.com/resources/data-reports/may-2024-mortgage-monitor ~~~~ Connect with Dave: BiggerPockets: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none Instagram: @thedatadeli or https://www.instagram.com/thedatadeli/ Show notes at: https://link.chtbl.com/BPRE