Zillow was wrong about home prices…
Last month, economists at Zillow released their annual home price forecast for 2024 and predicted that home prices this year would go down!
But just this past week, Zillow’s senior economist Orphe Divounguy revised their forecast stating that home prices would most likely increase by an average of 4.2% between January 2024 and January 2025. Some markets could see an even higher increase.
So what does this mean for those thinking about moving this spring…?
More buyer demand for your home as mortgage rates continue to come down.
Potentially a higher sales price for your home.
More money to put down on your next home.
Everyone’s situation is different, if you’re considering making a move this spring and have questions, feel free to contact our office. We would be happy to talk, review all of your options, and provide you with a market comparison for your home.
Home values have changed! If you are interested in getting an updated report on your home value, click the link below.