2024 Housing Market Predictions: High Rates & HUGE Opportunities?

Episode #163 Our 2024 housing market predictions are here. Will interest rates finally fall? Will home prices continue to stay strong even with weak demand? And will we EVER “technically” enter into a recession? We’ve got the full "On the Market" panel here to give their forecasts on everything that could happen in 2024, plus where the biggest buying opportunities could be. But first, we’ll painfully review our incorrect housing market predictions from 2023 and one BIG guess that we all got wrong. But we’re not the only ones! Both Zillow and Redfin had some predictions that didn’t age too well. From there, we’ll get into 2024 housing price predictions and whether or not we expect to see home prices FINALLY decline after a standstill year. Then, what everyone’s been waiting for—mortgage and interest rates predictions. If these start to fall, you can assume that home prices will rise, a buying frenzy will ensue, and the bidding wars will begin (again). With the potential for a recession at some point in 2024, lower mortgage rates may result from an even worse economic event. So, what IS going to happen? Stick around for our predictions! ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?... ~~~~ Listen to The “On The Market” Podcast Wherever You Listen to Podcasts: BiggerPockets: https://www.biggerpockets.com/podcast... Apple Podcasts: https://podcasts.apple.com/us/podcast... Spotify: https://open.spotify.com/show/2NlzZ9N... ~~~~ Join the Future of Real Estate Investing with Fundrise: https://www.fundrise.com/bpmarket ~~~~ Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch ~~~~ Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders ~~~~ Hear Our 2023 Housing Market Predictions: https://www.biggerpockets.com/blog/on... ~~~~ Where America’s Most Accurate Forecaster Sees Home Prices in 2024: https://www.biggerpockets.com/blog/on... ~~~~ Connect with Dave and Our Panel of Expert Guests: Dave Meyer: https://www.biggerpockets.com/users/d... Henry Washington: https://www.biggerpockets.com/users/h... James Dainard: https://www.biggerpockets.com/users/j... Kathy Fettke: https://www.biggerpockets.com/users/k... ~~~~ Follow Dave and Our Guests on Instagram: Dave: @thedatadeli or   / thedatadeli   Henry: @thehenrywashington or   / thehenrywashington   James: @jdainflips or   / jdainflips   Kathy: @kathyfettke or   / kathyfettke   BiggerPockets: @biggerpockets or   / biggerpockets   Show notes at: https://link.chtbl.com/OTM 00:00 Intro 01:32 What Analysts Got Wrong/Right 07:43 What WE Got WRONG 09:02 Home Price Forecast 13:23 Recession or Expansion? 18:44 Interest Rate Forecast 22:34 2024's Best Real Estate Markets 27:25 Biggest Investing Opportunities