Here’s where mortgage rates and home prices are heading, according to Zillow and Redfin

Some semblance of a buyer’s market in real estate could finally be on the way in 2024, bringing to a close a year of low inventory and record high prices. But don’t get too excited; it will likely be a slow change.

That’s according to new housing market predictions from real estate companies Redfin and Zillow. Both are forecasting that buyers will see some improvements in terms of inventory and prices in 2024. However, both say that mortgage rates will remain stubbornly high, hampering the speed at which real estate will return to normalcy.

Housing market predictions for 2024

Here are some of the biggest housing market predictions from Redfin and Zillow:


continue reading »