BiggerPockets Real Estate Podcast
Were We Wrong About the Housing Market? (+ 2025 Predictions)
Dec 27, 2024
Dive into the predictions for the housing market in 2025! The discussion uncovers past forecast blunders and applauds successful calls. Discover where home prices, interest rates, and the best investment markets are headed. Reflect on Zillow's performance while examining buyer trends favoring renovated homes. Amid inflation concerns, there's an unexpected optimism about lower mortgage rates. This lively debate also touches on the complexities of luxury listings and the potential growth in cities like Dallas-Fort Worth and Tampa!
43:49
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Quick takeaways
- The panel reviewed their previous housing market predictions, acknowledging inaccuracies while recognizing specific successes in forecasting inventory trends.
- Looking ahead to 2025, they expect moderate home price increases driven by supply-demand dynamics, with millennials entering the market seeking opportunities.
Deep dives
Reviewing 2024 Real Estate Predictions
The panel reflects on their bold predictions for the 2024 housing market, assessing which ones were accurate and which were not. They discuss Zillow's forecasts, particularly noting that their predictions for home buying costs leveling off were incorrect, as prices continued to rise amid high mortgage rates. Conversely, Zillow accurately predicted increased home listings, with inventory rising significantly over the year. The panel concludes that while some predictions were spot on, others failed to align with actual market trends, highlighting the inherent uncertainty in real estate forecasting.
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