Will the average single family home price in the US be higher at the end of 2024 than it is now?
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I say yes to the statement for the following reasons.
Historically and putting aside periods of ups and downs, the average home price has grown from $140k to $340K over the last 20 years.
According to the website Zillow, home values nationwide are expected to increase 4.80% from $339K this year to $355K in 2024.
Additionally, Banking Rates forecasted an average increase in home prices of 5.9% in 11 of the US, reinforcing again the idea of continuous growth.
Source:
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