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Carter believes that prices should remain relatively flat or see minor price increases on a national basis.
After rising more than 50% over the last five years, prices may finally stabilize in 2025.
Nationally, experts forecast 15%-25% price appreciation over the next five years.
Fannie Mae predicts that mortgage rates will remain around 7% through 2024 but ease downward in 2025.
Carter added, Housing demand is still high, and inventory is still lagging.
She also pointed out thatnew housing startsare expected to rebound in 2025, which should address the supply shortage.
Builders are likely to leverage their ability to offerconcessions and incentivesto attract buyers in a competitive market.
Experts believe that inventory will remain tight in the foreseeable future.
She also pointed out that with baby boomers expected to downsize, this could eventually increase inventory.
Cofini believes that technology will play a pivotal role inreal estate transactions.
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