2024 Real Estate Predictions

[Ken and Ari Walker]

In 2024, homebuyers can expect lower mortgage rates, higher home prices and a lot more competition. After nervously watching mortgage rates get two-decade highs and inventory plunge in 2023, many hopeful homebuyers are eager to get off the sidelines and into a home.

While 2023 was a better year for real estate in many respects, many buyers still struggled with affordability.

If you are planning to buy a house in 2024, here is what you can expect, according to some experts:

• Fannie Mae sees home prices rising 2.8% year over year by the end of 2024.
• The Mortgage Bankers Association believes prices could rise as much as 4.1% next year.
• The National Association of Realtors has more conservative expectations and predicts existing-home prices will inch up just 0.7% over next year.
• com predicts that prices will fall 1.7%.

Of course, these predictions are based on the country as a whole, and we know that California has always bucked the norm and exceeded expectations when it comes to the real estate market.

All the prognosticators agree that low home inventory will continue to be a problem into 2024, but that with increasing home construction, it’ll bring new opportunities this new year.

Best,

Ken & Ari Walker  - Your Direct Private Money Source
Husband & Wife Team

Phone: [phone] / Office: 1400 N. Dutton Ave #22 Santa Rosa, CA 95401
Ken: CA DRE Broker # 01858042 / NMLS #1221130
Ari: CA DRE #01858152 / NMLS #2170867