.11.png)
Housing Market Forecast: What’s Ahead for the 2nd Half of 2024
Posted by The Aaronson Group on
As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales.
Home Prices Are Expected To Climb Moderately
Home prices are forecasted to rise at a more normal pace. The graph below shows the latest forecasts from seven of the most trusted sources in the industry:
The reason for continued appreciation? The supply of homes for sale. Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), explains:
“One thing that seems pretty solid is that home prices are going to continue to go up because we don’t have housing inventory.”
While inventory is up compared to the last few years, it’s still low overall. And because…
276 Views, 0 Comments
.png)
Predicting the housing market can be challenging, but we at #theaaronsongroup do have valuable insights to share. Many of our clients reach out for help in navigating the current housing market.
Common questions we receive:
- Should I sell now or later?
- Will interest rates drop and how will this affect prices?
Inventory is already up 30% compared to 2023; experts predict the number of homes entering the market will continue to rise. We may finally be breaking out of the historically suppressed level of inventory since the Pandemic. This trend will likely impact the appreciation of your home's value. However, real estate trends are highly localized, it’s important to stay…
.png)
