A real estate expert predicts home values will keep rising through 2024 and beyond, backed by market analysis and expert forecasts. The video breaks down why housing prices are expected to climb rather than fall.
What's next for home values? So, going into 2023, many people are calling for a housing market collapse, but we predicted a 5% or so increase in home values. And now the results are coming in. It looks like we're going to see 6 to 7% increases in all values for 2023. So what's in store for 2024? We predict more of the same, probably another 5% or greater increase in home values. And if you look at some of the experts in this deal, Fannie Mae and Pulseonomics, they're predicting a 2.4% increase in 2024. But keep in mind, they're usually very conservative. These early estimates, at the beginning of 2023, they only predicted 3.3%. The actual results came in double. And then when you kind of examine some of the voters. So on average, they predicted 25% increases in home values over the next five years. And some of the more optimistic voters predicted 40% increases in home values over the Next five years. So the big takeaways here, we don't know exactly when or how much, but real estate continues to go up, and it will for the foreseeable future, making real estate probably the safest investment of all time. And that's because no matter how bad the economy or the market is, people still need a place to live. So they don't sell real estate like they would other investments, keeping the value strong.
