ilmscore | Zillow Housing Market Forecast Downgraded After Slow Spring Season

Zillow Housing Market Forecast Downgraded After Slow Spring Season

Published: 2024-07-05
Status: Analyzed

Predictions from this Video

Total: 9
Correct: 0
Incorrect: 0
Pending: 9
Prediction
Topic
Status
If mortgage rates remain elevated, homes will spend more time on the market, easing conditions and leading to a healthier, more stable housing market in the near future.
"I think homes will spend a little bit more time on the market uh and things will ease and if we are in that holding pattern here you know that is a steady and slow path to a healthier and more stable housing market."
Housing Market Dynamics
Pending
Mortgage rates are predicted to remain stable ('not do anything crazy') in the months leading up to the US election (November 2024).
"mortgage rates probably won't do anything crazy before then"
Mortgage Rates
Pending
Zillow forecasts a 1% decline in national housing prices from May 2024 to May 2025, after which prices are expected to return to flat and moderate growth.
"Zillow updated its forecast to now be projecting a 1% decline in housing prices from May 2024 to 2025... after this year we expect it to kind of return to flat and moderate growth"
Housing Prices
Pending
Home prices in the central cores of most major US metropolitan areas are expected to continue falling.
"home prices have been falling and continue to fall in those kind of central cores"
Downtown Housing Prices
Pending
Cleveland or St. Louis are predicted to be among the fastest-growing markets for home price appreciation in the next year (approx. July 2024 - July 2025).
"I'm going to go to Cleveland or St Louis something like that"
Home Price Appreciation
Pending
Single-family rent growth is predicted to be strongest in the Midwest, specifically in areas like Cleveland or St. Louis, over the next year (approx. July 2024 - July 2025).
"single family I'd say back that same area [Midwest, Cleveland/St. Louis]"
Single-Family Rent Growth
Pending
Texas and Florida are predicted to experience significant softness in both apartment and single-family housing markets over the next year (approx. July 2024 - July 2025).
"I expect much more softness on both sides apartments and uh uh single family"
Housing Market Softness
Pending
Apartment rent growth is predicted to be strong on the West Coast, potentially in cities like Seattle, and to continue to be strong in Northeast lifestyle cities like Boston and New York, over the next year (approx. July 2024 - July 2025).
"on the apartments I think it could swing West Coast um in terms of faster uh rent growth... maybe I'll lean more like the Seattles... Northeast is still going to be big though"
Apartment Rent Growth
Pending
The average rate on a 30-year fixed-rate mortgage is predicted to be 6.6% one year from the video's recording date (approx. July 2025).
"6.6%"
Mortgage Rates
Pending