Experts Predict Slower Home Price Growth, Steady Sales in 2024 Housing Market
• Realtor.com Expects a "bit of a break" with mortgage rates averaging 6.8% and home prices dipping 1.7% after rising 3% in 2023
• Goldman Sachs Predicts muted price growth as inventory picks up and existing home sales only dip slightly before rebounding in 2025
• Redfin Forecasts mortgage rates averaging 6.6% leading to a 1% drop in prices but a 5% jump in home sales to 4.3 million
• Zillow Says home price growth will level off and costs may fall if rates remain steady, allowing incomes to catch up
• Fannie Mae Expects slower price appreciation of 2.4% in 2024 as total home sales rise to 4.8 million amidst 6.7% average mortgage rates