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  • Writer's pictureTara Powell

Home Prices are on The Rise!


Now that we are a couple months into 2024, have the experts revised their

pricing forecasts? The answer is YES!


Over the past few months, experts have revised their 2024 pricing forecasts based on the latest market data and signals. In fact, experts are more confident prices will rise and not fall this year. This is great news for sellers who are planning to list their home this spring and summer.


According to Goldman Sachs 2023 original forecast, home prices were to bump up 1.9% nationally. Now, their current forecast has home prices up 5.0% from last year.


So what are the two big factors driving this increase: low inventory and a decline in mortgage rates. The market is seeing more buyer demand now that the mortgage rates have dipped but we still have a lower amount of inventory, although this is starting to increase. This is keeping the prices stronger than expected from a couple of months ago.


Keep in mind, Real Estate experts adjust their forecasts as the market shifts. So what may be true today, can change over time too. Basically, it is all about supply and demand. With our housing supply still limited, anything that causes demand will drive prices to go up.


If you are a seller looking to list your home, please reach out to my team and I so we can give a free home valuation on your property’s value and also the current market stats in your area. I’m Danielle Abraham with the RE/MAX NC Coastal Team. Real Estate with a Purpose. Where we put our clients and community first!


For more information contact us at info@nccoastalteam.com or 252-618-9371. We’re here to help!

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