With doomsday headlines and lagging shopper confidence, how do you have to proceed in 2024? Time to get the recommendation of TWO senior economists! BiggerPockets’ Dave Meyer talks with ZILLOW’s Orphe Divounguy and REDFIN’s Chen Zhao to demystify the newest US financial indicators and offer you methods to thrive on this 12 months’s housing market.
We’ll get into dwelling costs, the incoming “affordability correction,” mortgage price forecasts, and why subsequent 12 months might be considerably higher for patrons. However that’s not all. Each Chen and Orphe share their outlook for the 2024 economic system, the state of the American shopper, and what might occur as pupil loans chill in, bank card delinquencies enhance, and money reserves run dry.
Lastly, we’ll finish issues with Chen and Orphe’s listing of actual property markets to observe and the dear areas which will see a revitalized post-pandemic growth. If you wish to know what to anticipate, the place to speculate, and if the new housing market will return in 2024, stick round!
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In This Episode We Cowl:
- Redfin and Zillow’s 2024 housing market predictions
- The “weakening” American shopper and what this implies for homebuying
- 2024 mortgage charges, “disinflation,” and the place we might find yourself subsequent December
- The “affordability correction” that might assist dwelling patrons get their first home
- Riskiest actual property markets in America that might see HUGE value cuts
- Reasonably priced markets to observe which have had rock-solid dwelling costs
- And So A lot Extra!
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Word By BiggerPockets: These are opinions written by the creator and don’t essentially characterize the opinions of BiggerPockets.