Home Values Will Rise 6.5% Over the Next Year: Zillow
The real estate market may have slowed in terms of sales pace, but it's not slumping when it comes to what homes are worth. Estimated home values, in fact, continue to rise, likely putting the kibosh on any ideas that the price bubble or inventory drought will give in the near future.
A new report from Zillow, the real estate company, forecasts that home valuations will have seen a nearly 6% spike this year by 2023's end. And it expects the trend to continue with even higher home value growth predicted for 2024.
That's likely good news for current owners who would see their home equity rise, but it doesn't bode well for potential buyers to come.
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