A Complete Rundown on Real Estate Market Predictions for 2024

A Complete Rundown on Real Estate Market Predictions for 2024

What are economists saying about the real estate market for the coming year? We share the major takeaways here, and we included links to a number of predictions for residential and commercial properties.


Zillow predicts residential housing prices will decline 0.2% nationally in 2024.


Realtor.com predicts residential housing prices will decline 1.7% nationally in 2024.


Redfin predicts residential housing prices will decline 1.0% nationally over the second and third quarters of 2024.


Forbes interviewed economists and industry experts who believe that inventory levels and the number of sales will increase slightly over 2023. BrightMLS, the largest Multiple Listing Service along the Atlantic Coast, predicts an 8% increase in the number of units sold.

Goldman Sachs

Goldman Sachs predicts that 30-year mortgage interest rates will stay above 7% for 2024.


Kiplinger projects that residential rents will grow only 1.2% this year. Kiplinger projects that office space vacancy will increase, while demand for retail space stays strong. Data center space will be in demand as the need for Artificial Intelligence computing grows.

The National Association of Realtors (NAR) provides a tremendous amount of data on their research page.

Per NAR, sales of existing homes were the lowest since 1995. Full-year sales came in at 4.09 million units sold. A normal year sees over 5 million existing homes sold. In 2021, there were over 6.12 million sales. In 2020, there were 5.64 million sales. The national median sale price for 2023 was a record-high $389,800. Affordability for many buyers, including first-time homebuyers, is a big problem.

ATTOM, a real estate data curator, reported that renting is cheaper than homeownership in almost 90% of the country.

In many residential markets, home prices will be supported by low inventory and increasing demand as mortgage rates fall. Rental values should stay the same in many markets. The dramatic price and rental increases of the past four years have slowed.

How are things in your market? I’d love to hear from you!

Tai DeSa is a graduate of The Wharton School of the University of Pennsylvania.  He became a full-time real estate investor in 2004 after serving in the U.S. Navy.  Tai made colossal mistakes in investing (and learned some things along the way).  Tai has coached hundreds of entrepreneurs, real estate investors, and real estate agents on how to increase their income and net worth. He has helped hundreds of homeowners avoid foreclosure through successful short sales. Check out Tai’s books on Amazon.com. Tai may be available for coaching and speaking engagements on a variety of real estate topics.  Send an email to tai@investandtransform.com.

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