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- Housing market affordability is expected to improve in 2024, Morgan Stanley's chief US economist said.
- Growth in inventory as homebuilding activity grows stronger will offset an increase in demand.
- Home sales will pick up in the second half of 2024 and further into 2025, as prices see "modest" declines.
A change of fortune will be in the cards for the housing market next year, according to Morgan Stanley's chief US economist.