KEY REAL ESTATE TRENDS TO WATCH IN 2024

What’s in Store for 2024? 

The National Association of Realtors (NAR) released its forecast for 2024 in December last year, predicting a growing housing market with home sales increasing and mortgage rates lowering within the United States.  

Keep reading to learn what to expect for the year ahead.

Prices Remain Stable, Sales Rise 

NAR’s Chief Economist Lawrence Yun expects that home prices will remain largely unchanged in 2024, with a predicted nationwide increase of 0.9% compared to 2023. Home sales, however, should begin to rise with an anticipated growth of 13.5%. Metro markets in the South and Midwest are likely to outperform others, due to faster job increases in the southern states and more affordable housing in the Midwest.  

Decreasing Interest Rates 

Yun said that mortgage rates likely hit their peak in 2023 and are looking to decrease this year. The average 30-year mortgage interest rate is predicted to drop to 6.3% in time for spring in the U.S. 

Housing Demand to Begin Recovering 

Yun predicts that the falling mortgage rates and income rises should assist the demand for housing to recover. That and an expected 30% increase in housing inventory, thanks to more listings entering the market after pent-up sellers refuse to wait any longer.  

Top 10 Housing Markets to Watch 

These 10 real estate markets are expected to recover their demand for housing quickly, due to a variety of reasons, including lower home price appreciation, more affordable listings for first-time buyers, and strong job growth. 

  1. Austin-Round Rock-Georgetown, Texas 
  2. Dallas-Fort Worth-Arlington, Texas 
  3. Dayton-Kettering, Ohio 
  4. Durham-Chapel Hill, North Carolina 
  5. Harrisburg-Carlisle, Pennsylvania 
  6. Houston-The Woodlands-Sugar Land, Texas 
  7. Nashville-Davidson–Murfreesboro–Franklin, Tennessee 
  8. Philadelphia-Camden-Wilmington, Pennsylvania-New Jersey-Delaware-Maryland 
  9. Portland-South Portland, Maine 
  10. Washington-Arlington-Alexandria, D.C.-Virginia-Maryland-West Virginia 

Want to maximize your real estate marketing in 2024? Start the new year off right and sign up to BoxBrownie.com now and receive 4 edits free. No credit card is needed. 


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