“I think [home prices] will for sure increase if rates drop,” said Troy Norris, mortgage broker at City Creek Mortgage. “It brings out so many more people that can qualify, and so there's a lot more offers on every house. When you have multiple offers, that's going to drive the...
On a national scale, home sale prices have increased consistently year-over-year since July 2023. Redfin data shows that the median sale price for August 2024 was $432,961, a 3.0% year-over-year increase compared with the same period in 2023. Although 19.9% of houses dropped their prices ...
Mortgage rates have been dropping — so will home prices also decline this fall? Here's what the experts say.
Home Affordability Outlook Appears Grim Amid Rising Home Prices and Low Inventory Though down from its 2023 high of 7.79%, the average 30-year fixed mortgage rate in 2024 remains well over 6% amid rising home values. As a result, home buyers continue to face affordability challenges...
The views of many of the most pessimistic home-price prognosticators continue to darken.Shenn, Jody
Inc expects housing prices to decline 5% next year. He had previously predicted that they would be flat. Bear Stearns analyst, Gyan Sinha, says observers are ignoring the fact that fully amortizing 30-year fixed-rate loans are no longer the only real option. Implications for the banking ...
Zillow: Home values will grow 2.6% in 2025. Although home values aren't likely to drop significantly, it's still positive that they probably won't keep rising at the double-digit pace seen in 2021 and 2022. Without over-the-top bidding wars to drive home prices through the roof, buyer...
Zillow: Home values will grow 2.6% in 2025. Although home values aren't likely to drop significantly, it's still positive that they probably won't keep rising at the double-digit pace seen in 2021 and 2022. Without over-the-top bidding wars to drive home prices through the roof, buyer...
For the most part, industry experts do not expect the housing market to crash in 2023. Yes, home prices are over-inflated. But many of the risk factors that led to the 2008 crash are not present in today’s market. Low inventory and massive buyer demand should keep the market propped ...
Builder Says Home Prices Will Drop 10% This Year