Mid-Year Housing Forecast Revealed!

With home prices rising and mortgage rates fluctuating, many are wondering if now is the right time to buy or sell. Fortunately, experts have insights to help guide your decision.

Here’s what leading housing experts are saying about the rest of the year:

1. Mortgage Rates May Decrease Slightly 

While a big drop isn’t expected, rates are likely to decline modestly as the economic outlook stabilizes. Even a small decrease could lower your monthly mortgage payment, offering some breathing room in your budget. However, keep in mind that inflation, employment, and the broader economy will affect rates, so expect some ups and downs. 

2. Inventory Will Continue to Grow

Home inventory has already improved this year, and experts believe this trend will continue. Homeowners who’ve been holding off are starting to list their properties, and as mortgage rates stabilize, more sellers may enter the market. This means more options for you if you’re looking to buy.

“The fact that inventory is rising year-over-year . . . strongly suggests that national active housing inventory for sale is likely to end the year higher.”
- Lance Lambert, Co-founder of ResiClub

3. Home Prices Will Moderate
With more homes available, there will be less pressure on prices to rise rapidly. Experts expect home prices to increase by about 2% this year. While some markets may see higher prices or even small dips, overall, the pace of price growth is slowing down, making it a bit easier to find a home at a reasonable price.