Year-End Home Price Predictions

Are home prices going up or down?  As we head towards the end of 2023, various housing economists have given their predictions on how national home prices will end the year.  Let’s start on the optimistic end of the spectrum.  The American Enterprise Institute predicts a 6% increase.  Zillow predicts 5.5%, and Fannie Mae is at 3.9%.  The Pulsenomics survey of over 100 economists and housing analysts calls for a 3.3% increase.  Know at the bottom end, the Mortgage Bankers Association has a 1.5% increase and the National Association of Realtors expects a decline of 0.4%.  The average of all these is a 3.3% increase.  Now there’s a huge disparity in these predictions considering that we’re just three months away from the end of the year.  Having followed many of these predictions over the years, one thing I can say with certainty is that they’re never right.  By the way, Austin home prices continue to have the greatest decline among US cities.

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