Thinking about selling your house? If you are, you might be weighing factors like today’s mortgage rates and your own changing needs to figure out your next move.Here&rsquo
Experts Project Home Prices Will Increase in 2024
Dated: January 23 2024
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Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every four people are dealing with that fear, and you might be, too.
To help ease that concern, here's what experts forecast will happen with prices this year.
Experts Project a Modest Increase
Check out the latest home price forecasts from eight different sources (see graph below):
The blue bar on the left means, on average, experts think home prices will go up over 2% by the end of this year – not down.
Prices aren’t likely to depreciate in 2024 because inventory is still tight and lower mortgage rates are leading to strong buyer demand. Those two factors will keep pushing prices up as the year goes on. As Selma Hepp, Chief Economist at CoreLogic, explains:
“With mortgage rates dropping, demand for homes in early 2024 is likely to be strong and will again put pressure on prices, similar to trends observed in early 2023 . . . Most markets will continue to reach new home price highs over the course of 2024.”
What Does This Mean for You?
Experts are saying home prices will go up this year, and that's good news if you're thinking about buying a home. When you become a homeowner, you want the value of your house to go up. That appreciation is what builds equity and makes homeownership such a good investment over time.
Beyond that, expected home price appreciation also means if you’re ready, willing, and able to buy, waiting just means it will cost more later.
Bottom Line
If you're worried home prices will come down, don’t be. Many experts believe they’ll actually go up this year. If you have questions or worries about what’s happening with prices in our area, let’s connect.
Philip Weinert
Looking for a realtor in Geneva, Batavia or St. Charles who is hardworking, knowledgeable, and customer-focused? Look no further! As a top-rated real estate agent, I specialize in helping my clients b....
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Data is updated as of September 27, 2026 3:06 AM UTC
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
