home price increase predictions

The 2024 housing market has been challenging, with high mortgage rates and limited inventory making it tough for buyers. While a housing crash is unlikely, experts predict conditions will improve, making home buying easier in the near future. 2024 Housing Market Overview In early 2024, home prices reached new highs, and mortgage rates stayed near 20-year peaks, leading to lower demand. However, mortgage rates dropped over the summer, before rising again to 6.24% in October. Prices also saw a 2.7% increase, averaging $359,892 in September. Experts expect mortgage rates to ease and price growth to moderate in 2025. Why Are