Wondering where the US housing market is headed? Our real estate forecast for the next 5 years tackles this question. We'll explore expert predictions on mortgage rates, home prices, and potential crashes, giving you the insights you need to navigate the market, whether you're buying or selling. I. Home Price Forecast The scorching hot housing market of recent years, fueled by ultra-low mortgage rates and fierce competition among buyers, has left many wondering: what's next for home prices? Data from the National Association of Realtors (NAR) as of April 2024 paints a clear picture ..read more

Zillow's latest report predicts a potential cooling-off period for the U.S. housing market. Out of 894 markets, roughly 22% (around 200) are expected to see home price declines over the next year (by March 2025). Prices are projected to hold steady in about 1% of markets, while the remaining 77% (roughly 684) can anticipate some level of price growth. The United States is expected to see a 1.4% increase in home prices by March 31, 2025. This information is consistent with other housing market forecasts for the country, which predict a slowdown or modest growth in home prices over the next year ..read more

While major housing markets grab headlines, hidden havens across America offer a thriving, under-the-radar housing scene. One such diamond in the rough is Rockford, Illinois. While not a name that immediately springs to mind when discussing real estate powerhouses, Rockford has stealthily ascended to claim the coveted title of America's top housing market to watch, as revealed by the annual Wall Street Journal/Realtor.com Housing Market Ranking. The Rise of Rockford: America's Surprising No. 1 Housing Market Nestled in the northern reaches of Illinois, Rockford's emergence as a real estate for ..read more

Homebuyers hoping for a dramatic drop in housing prices might be disappointed by recent data. While mortgage demand has indeed been on a downward slope, a housing market crash seems like a distant prospect at this point. Let's dissect the current situation in the housing market and what it means for aspiring homeowners. Interest Rates on the Rise, Demand on the Decline The primary culprit behind the current market jitters is the rise in interest rates. The average 30-year fixed-rate mortgage has climbed to 7.24%, the highest level since late 2023. This increase has significantly impacted the w ..read more

The mere mention of a housing market correction sends shivers down the spines of many. Memories of the 2008 crash are still fresh, conjuring images of plummeting home values, foreclosures, and a financial crisis of epic proportions. But is a 2008 repeat on the horizon in 2024? Experts largely agree: the answer is no. Here's why the housing market today presents a different scenario, backed up by data sets and tables: A Tale of Two Housing Markets: Supply & Demand A critical difference between 2008 and 2024 lies in supply and demand. In 2008, an oversupply of homes flooded the market, drivi ..read more

Let's face it, buying a home can be an exciting yet intimidating journey. Mortgage rates, a crucial factor impacting your monthly payments, can add another layer of complexity. This year, rates have been on an upward climb, exceeding 7% for a 30-year fixed mortgage. This increase can significantly affect how much house you can afford. So, what's the smart move? Should you put your homebuying dreams on hold, hoping for rates to decrease, or lock in a loan now? There's no magic formula, but let's dissect the situation like a savvy real estate investor. While high rates translate to larger monthl ..read more

Imagine trying to plan your finances for the next ten years, but interest rates – those numbers that impact everything from mortgage payments to savings account returns – are a bit of a mystery. In Canada, that's the current situation. While experts are offering their best predictions, the truth is the future of interest rates remains somewhat up in the air. But fear not! By understanding the current climate, what the crystal balls are showing, and some historical context, we can navigate this uncertainty together. Here's what we know: as of April 2024, the Bank of Canada is holding rates stea ..read more

The Canadian interest rate is currently undergoing a period of significant change. After a prolonged era of historically low rates, the Bank of Canada (BoC) has embarked on a tightening cycle to combat inflation. But where will rates go from here? Let's delve into the forecast for the next five years, unpacking the factors at play and exploring potential scenarios. As we look ahead, forecasts for the Canadian Interest Rate suggest a period of fluctuation followed by stabilization, reflecting the broader economic trends and policy responses. According to recent analyses, the Bank of Canada's po ..read more

The US real estate market, a cornerstone of the American economy, is exhibiting signs of vulnerability according to a recent report by the Federal Reserve. This biannual Financial Stability Report, published in April 2024, raises concerns about both the residential and commercial sectors, highlighting potential risks to financial stability. Residential Market: A House of Cards? On the residential side, the Fed points to historically high housing prices. While this might be welcome news for homeowners looking to sell, it raises concerns about affordability and the potential for a correction. If ..read more

Long Island, renowned for its scenic beauty and vibrant communities, faces an insidious challenge – a housing crisis that imperils its economic vitality. The region's ability to attract and retain vital workers is compromised as affordable housing options dwindle. Even high-earning professionals like cardiologists, with salaries exceeding $350,000, find themselves priced out of the market, as highlighted by Paul Connor, chief administrative officer at Stony Brook Eastern Long Island Hospital. “This is the most challenging place to recruit,” Connor told Bloomberg. “The single most difficul ..read more