Experts Project Home Prices Will Increase in 2024
January 23, 2024 For Buyers Pricing First Time Home Buyers Housing Market Updates Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every four people are dealing with that fear, and you might be, too. To help ease that concern, here's what experts forecast will happen with prices this year. Experts Project a Modest Increase Check out the latest home price forecasts from eight different sources ( see graph below ): The blue bar on the left means, on average, experts think home prices will go up over 2% by the end of this year – not down. Prices aren’t likely to depreciate in 2024 because inventory is still tight and lower mortgage rates are leading to strong buyer demand . Those two factors will keep pushing prices up as the year goes on. As Selma Hepp, Chie