The U.S. housing market has been tumultuous due to persistent interest rate hikes.

However, an upward revision of U.S. gross domestic product growth in the second quarter has led speculators to reconsider their bets on a substantial 50-basis-point rate cut next month.

With mortgage rates expected to decrease, experts advise homebuyers to act swiftly to secure the best deals before the opportunity closes.

Looking ahead, several dynamic trends are set to shape the housing market.

According to a note by Norada Real Estate Investments, the market will remain strong over the next five years, though it will...