Tag Archives: Market Predictions

Redfin’s new forecast examines whether next year's market will favor buyers, whether renting will lose any of its appeal, and how location will factor in due to issues such as in-office policies, climate risk, and affordability.

According to Bank of America's latest Homebuyer Insights Report, the estimated number of prospective buyers willing to wait for prices and/or mortgage rates to fall before purchasing a home is down from a whopping 85% recorded in June.

The Joint Center for Housing Studies has released Housing America’s Older Adults 2023 report, revealing that the older population is surging, presenting imminent challenges to supply housing and care for millions of Americans in the coming years.

A new LendingTree report revealed how consumers feel about current market conditions, the likelihood of the market crashing in 2024, and just how many are actively hoping it does.

According to MeridianLink’s latest Nationwide Mortgage Lending Survey, more than 30% of Americans are less confident in their ability to afford a home compared to five years ago. In addition, 55% expect mortgage rates to continue rising through the remainder of 2023.

According to Realtor.com's August 2023 Rental Report, buying a starter home in the top 50 metros cost approximately 60.3% more than renting, while median U.S. rents experienced their fourth consecutive month of year-over-year declines.

As the average 30-year fixed mortgage rate nears 8%, new commentary from First American Chief Economist Mark Fleming details the predictions of where mortgage rates will end up throughout the remainder of the year.

According to Fannie Mae's Economic and Strategic Research Group expectations for Q1, the increase in the sales pace from the end of 2022 to the beginning of 2023 revealed that homebuying demand remains buoyant and was unexpectedly responsive to small declines in mortgage rates.

Lack of inventory is not the only thing that will keep prices high—years of underbuilding by developers, elevated demand due to remote work, and low mortgage rates are all contributing factors.

Despite the challenges buyers faced in 2016, existing-home sales had their best year in a decade. What does the market look like for next year?