Expert Insights on 2024 House Predictions

The ever-evolving real estate market is a tapestry woven with economic trends, demographic shifts, and global influences. As we set our sights on 2024, industry experts offer valuable insights into the potential trajectories and dynamics that may shape the housing market in the coming year.


🏡 Let's hear from the experts as they share their projections and predictions for the real estate landscape in 2024.


Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), says:

👩‍💼 “For home buyers who are taking on a mortgage to purchase a home and have been wary of the autumn rise in mortgage rates, the market is turning more favorable, and there should be optimism entering 2024 for a better market.”


Lisa Sturtevant, Chief Economist at Bright MLS, says:

👩‍💼 “Supply will loosen up in 2024. Even homeowners who have been characterized as being ‘locked in’ to low rates will increasingly find that changing family and financial circumstances will lead to more moves and more new listings over the course of the year, particularly as rates move closer to 6.5%.”


As the Home Price Expectation Survey (HPES) from Fannie Mae, a survey of over 100 economists, investment strategists, and housing market analysts, says:

👩‍💼 “On average, the panel anticipates home price growth to clock in at 5.9% in 2023, to be followed by slower growth in 2024 and 2025 of 2.4 percent and 2.7 percent, respectively.” 

Mike Simonsen, President and Founder of Altos Research, puts it:

👨‍💼 “We’re going into 2024 with slight home-price gains, somewhat easing inventory constraints, slightly increasing transaction volume . . . All in all, things are looking up for the U.S. housing market in 2024.”

The 2024 real estate market promises to be a tapestry of challenges and opportunities, and these expert projections serve as a compass for navigating the complexities that lie ahead. Whether you're a prospective homebuyer, seller, or investor, staying informed about the trends and dynamics shaping the industry is paramount. As we step into 2024, these insights from industry experts offer valuable guidance for making well-informed decisions in the dynamic world of real estate.


➡ Follow me on my IG @themelaniegundersheim for more!