Home Prices

One of the biggest questions I'm getting right now is: what's going to happen with home prices this year?

Will they keep climbing? Here's what you need to know if you're planning a move.

• There have been some rumors that home prices are falling - this isn't the truth for most markets across the U.S.
• We're kicking off 2024 with lower rates than last year which has led to seeing an uptick in buyer activity.
  However, inventory is still well below the norm.
• The lack of balance between supply and demand means we're going to keep seeing upward pressure on home prices.
• Experts feel confident prices will rise, not fall. In fact, many of them are already updating their recent forecasts indicating they could climb higher than previously projected this year.
• Appreciation is what builds equity and makes homeownership such a good investment over time.
• On top of that, expected home price appreciation also means if you're ready, willing, and able to buy, waiting just means it will cost more later. 

And the good news is, based on what i'm seeing and hearing now, 2024 may be a slightly better year afford-ability-wise than last year.

2024 Home Price Forecasts

Forecasts from 11/2023 vs. Current Forecasts

2024 Home Price Forecasts

Percent Appreciation/Depreciation as of 1/29/2024

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