Zillow Housing Market Forecast Downgraded After Slow Spring Season

Episode #983

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Zillow’s latest housing market forecast shows a decline in home prices over the next year after a very slow spring homebuying season. While spring is traditionally the hottest time of the housing market, with more sellers and buyers hitting the market at once, this year was stunted significantly. Will this trend continue as housing inventory remains at rock-bottom levels, or are things gradually improving, with a return to normalcy in sight? We’ve got Dr. Skylar Olsen, Chief Economist at Zillow, on to share the latest forecast and which markets could be in trouble.

With mortgage rates still hovering around seven percent, homebuyers and sellers are stuck. Sellers don’t want to trade into a more expensive mortgage payment, and buyers can’t afford today’s median home price. As a result, some under-the-radar, affordable real estate markets are seeing home and rent prices increase, while some traditionally hot markets are already seeing price corrections.

Where will the next correction hit, and which markets will have the most opportunity for real estate investors? Skylar explains it all, plus why Zillow updated their recent home price forecast to show a DROP in home values over the next year.

00:00 Intro

01:36 Homebuying Sees “Extra Slowdown”

06:51 Homes Sitting Longer

08:34 More Inventory On the Way?

13:19 Zillow Updates Forecast

17:54 Markets Seeing Price Corrections

20:58 Hot Markets

22:22 Where Rents Are Growing

26:33 Investors, Watch THIS

29:16 2025 Predictions

[Gigawattt]

I love the way she always whispers when she says, “recession” as if the universe will hear her and make a recession come 😝

[ThirstyforTruth]

One or two rate cuts won't make any difference, ... PEOPLE ARE STRAPPED.

[davidmacgown]

What are your thoughts on the Miami, FL metropolitan area (palm beach, broward, Miami-dade counties) do you think it's a buyer's market yet?