-->

Home Prices Could Rise By 4.9 Percent In August 2024, Zillow Economists Say

Zillow predicts a 4.9 percent home price increase, lower that 6.5% is previously predicted, by August 2024.

Posted September 26, 2023

Housing prices could reach as high as 5 percent by next year, according to Zillow economists.

Zillow recently revised its 12-month outlook for home prices, which brings the newest prediction to a 4.9 percent increase by August 2024. The latest prediction is down from the previous July prediction of a 6.5 percent increase by next year.

The real estate listing site cited an unexpected late-summer uptick in new listings as a source of cooling, however, low inventory continues to stagnate the market. New listings increased by 4 percent from July to August, according to the report.

“To be clear, August’s new listings total – as well as total for-sale inventory – remains well below typical levels seen prior to the pandemic, and inventory conditions remain very tight. That said, this unusual late-summer supply uptick helped to ease market conditions some, causing our outlook for home values to cool.” Zillow economists said.

View the full report, here.