BiggerPockets | Zillow Housing Market Forecast Downgraded After Slow Spring Season @biggerpockets | Uploaded July 2024 | Updated October 2024, 15 hours ago.
Episode #983
Episode Show Notes: link.chtbl.com/BPRE
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BiggerNews: 2024 Housing Market Update and Why Prices Are Still Rising:
biggerpockets.com/blog/real-estate-959?utm_source=youtube&utm_medium=description&utm_campaign=none
Access Zillow’s Free Housing Data:
zillow.com/research/data
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Zillow’s latest housing market forecast shows a decline in home prices over the next year after a very slow spring homebuying season. While spring is traditionally the hottest time of the housing market, with more sellers and buyers hitting the market at once, this year was stunted significantly. Will this trend continue as housing inventory remains at rock-bottom levels, or are things gradually improving, with a return to normalcy in sight? We’ve got Dr. Skylar Olsen, Chief Economist at Zillow, on to share the latest forecast and which markets could be in trouble.
With mortgage rates still hovering around seven percent, homebuyers and sellers are stuck. Sellers don’t want to trade into a more expensive mortgage payment, and buyers can’t afford today’s median home price. As a result, some under-the-radar, affordable real estate markets are seeing home and rent prices increase, while some traditionally hot markets are already seeing price corrections.
Where will the next correction hit, and which markets will have the most opportunity for real estate investors? Skylar explains it all, plus why Zillow updated their recent home price forecast to show a DROP in home values over the next year.
00:00 Intro
01:36 Homebuying Sees “Extra Slowdown”
06:51 Homes Sitting Longer
08:34 More Inventory On the Way?
13:19 Zillow Updates Forecast
17:54 Markets Seeing Price Corrections
20:58 Hot Markets
22:22 Where Rents Are Growing
26:33 Investors, Watch THIS
29:16 2025 Predictions
Episode #983
Episode Show Notes: link.chtbl.com/BPRE
Join BiggerPockets for FREE 👇
biggerpockets.com/signup?utm_source=owned_media
Start Investing with Dave’s Newest Book, "Start with Strategy" :
store.biggerpockets.com/products/start-with-strategy?utm_source=youtube&utm_medium=description&utm_campaign=none
Find Investor-Friendly Lenders:
biggerpockets.com/findlenders
See Dave at BPCON2024 in Cancun!
biggerpockets.com/events?utm_source=youtube&utm_medium=description&utm_campaign=none
BiggerNews: 2024 Housing Market Update and Why Prices Are Still Rising:
biggerpockets.com/blog/real-estate-959?utm_source=youtube&utm_medium=description&utm_campaign=none
Access Zillow’s Free Housing Data:
zillow.com/research/data
Connect with Dave:
Dave: biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none
Zillow’s latest housing market forecast shows a decline in home prices over the next year after a very slow spring homebuying season. While spring is traditionally the hottest time of the housing market, with more sellers and buyers hitting the market at once, this year was stunted significantly. Will this trend continue as housing inventory remains at rock-bottom levels, or are things gradually improving, with a return to normalcy in sight? We’ve got Dr. Skylar Olsen, Chief Economist at Zillow, on to share the latest forecast and which markets could be in trouble.
With mortgage rates still hovering around seven percent, homebuyers and sellers are stuck. Sellers don’t want to trade into a more expensive mortgage payment, and buyers can’t afford today’s median home price. As a result, some under-the-radar, affordable real estate markets are seeing home and rent prices increase, while some traditionally hot markets are already seeing price corrections.
Where will the next correction hit, and which markets will have the most opportunity for real estate investors? Skylar explains it all, plus why Zillow updated their recent home price forecast to show a DROP in home values over the next year.
00:00 Intro
01:36 Homebuying Sees “Extra Slowdown”
06:51 Homes Sitting Longer
08:34 More Inventory On the Way?
13:19 Zillow Updates Forecast
17:54 Markets Seeing Price Corrections
20:58 Hot Markets
22:22 Where Rents Are Growing
26:33 Investors, Watch THIS
29:16 2025 Predictions
