Despite the changing picture in the real estate markets and numerous analysts predicting more pain, Zillow, a US real estate marketplace, came out with a revised housing market trend for the next 12 months, shared on Twitter by Graham Stephan, a real estate investor, on October 18. Namely, the revision now foresees home prices in the US rising by 1.4% over the next 12 months, with certain areas of the US experiencing higher growth and some seeing a decline.
Aggregated view of the country
Zillow forecast represents an aggregated view of the entire country, the graphic shared of the ‘hot zones’ shows that growth will, however, not occur in each neighborhood and that results may vary significantly. Earlier, Moody’s experts predicted a correction in the housing markets, which actually took place, especially in the Western part of the US, where home sales plummeted, and home prices declined, as reported by Finbold a few weeks ago.
Regional markets
According to Zillow, regional markets, more sensitive to mortgage rates, saw declines, such as Seattle and San Francisco. It seems that Zillow is then expecting the rate hiking cycle to be over in the next 12 months, as well as mortgage rates to either come down or stay slightly elevated, as currently, the slowdown is still in swing, mostly thanks to mortgage rates. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
