Home Prices Forecast to Continue Climbing in 2024 Amid Ongoing Inventory Shortage
• Home prices could see another 5% surge in 2024, Capital Economics predicted
• Low inventory has helped push home prices higher over the last year as demand remains hot
• Active listings are still around 400,000 short of "normal" levels, suggesting an imbalance of supply and demand
• High mortgage rates have discouraged existing homeowners from listing properties for sale
• Tight supply paired with a recovery in buyer demand should keep competition for homes strong and support prices