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Fortune
Fortune
Glen Luke Flanagan

2024 new home sales hit their highest pace in three years. Does that mean lower home prices are around the corner?

Home Prices Census Bureau United States US Federal Reserve
People shaking hands in front of a house. (Credit: Getty Images)

New home sales in 2024 hit their highest level since 2021, according to data released by the United States Census Bureau. 

In a market where mortgage interest rates are stubbornly high—despite Federal Reserve rate cuts—and existing home sales remain sluggish, this is welcome news for prospective homebuyers.

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