What are the key factors influencing real estate prices in 2024?

Real estate prices in 2024 are influenced by several key factors including supply and demand dynamics, interest rates, economic growth, and local market conditions. As housing supply tightens and demand remains strong, prices are likely to continue rising in many areas. Additionally, changes in interest rates can significantly affect affordability, while macroeconomic trends like employment rates and income growth play a crucial role in shaping buyer sentiment.