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Predictions for the national Real Estate market 2024-2028

Due to the length of the information contained in the article, I constrained the discussion to 2024/2025.
Many factors will affect the housing market in the U.S. over the remaining years of the 2020s, and there is no shortage of pundits with guesses that are all over the map. The common thread to most of these prognostications are no surprise: interest rates and supply of homes. Norada lists some specific ideas that will determine the direction of the market in 2024.

1. A continued rise in prices of homes, but at a much slower pace.
2. An increased supply of homes, most notably from new builds.
3. Mortgage rates to increase. I didn't fully understand this one, as they mention the Fed fund rates will recede. This move may create greater demand, driving up mortgage rates? Seems that tracking the 10-year Treasury is a better gauge of increased/decreased mortgage rates. Let us know your thoughts!
4. The market will remain competitive.

Zillow had predicted a 0.2% decrease in home pricing for 2024.

The moderation in pricing and rates are predicted to bring stability to the housing market. Stable prices will bring in buyers that have been waiting on the sidelines.
According to the National Association of Home Builders, a housing shortage is seen to continue through the end of the 2020s.

Other pricing factors include inflation, economic growth, supply constraints, investor activity, and remote work.

For 2025, we should see a continuation of the factors from 2024, plus the effects of job losses/employment trends, possible recession impacts, household formation (younger adults starting families), and government policy.
Oh yes, and we have an election in November, which may or may not influence the overall economy, filtering through many of the aspects listed above.

Source: U.S. News housing Market Index

Sean Boyle
sboyle@atova.com

Atova, Inc.
360 E. State
Eagle, ID 83616
Phone: 208-939-5151
Fax: 208-939-5152
Email: info@IdahoRealEstate.com

In Idaho things are different. People are friendly, the streets are safe and life just seems to move a little bit slower. If you already live in the Boise area please stop by and say hello. We would enjoy hearing from you and we would enjoy being of service! If you don't yet live in Idaho, what are you waiting for? Now just might be the right time to make the move. We are professional and trustworthy real estate agents servicing the greater Boise Idaho area and beyond. Whether you are interested in new homes in the city, a cabin by the lake or a maintenance free downtown Boise condo, our agents are standing by to serve you. Call us today and let us know what we can do to help!