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Zillow is a full-blown housing market bull‐predicting that U.S. home prices will jump 6.5% by July 2024.
[Instapundit] Back in February, Zillow’s housing economists made a bold call that U.S. home prices had bottomed and would proceed to climb 0.5% over the next 12 months.In the months preceding that call, U.S. home prices as tracked by the Zillow Home Value Index not only began to climb again but also reached a new all-time high. This uptick was propelled by the tailwind generated from tight inventory levels, which proved strong enough to overpower the headwind caused by the mortgage rate shock. That U.S. house price rebound coincided with Zillow repeatedly revising its home price forecast upward. Its latest revision, Zillow predicts that U.S. home prices will rise 6.5% between July 2023 and July 2024—up from the 6.3% call it made last month. That’s nice if you’re already a homeowner. Less nice if you’re just starting out and looking to buy your first home. Posted by: Besoeker 2023-08-29 |
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