Housing Markets Show Resilience Despite Inventory Shortages and Low Sales.

Zillow's forecast model predicts a 4.8% jump in US home prices between April 2023 and April 2024, with only 10 of the nation's 400 largest housing markets expected to see a decline. Zillow expects 390 regional housing markets to see a home price increase, with 37 markets expected to rise by at least 7%. The reason for the bullish outlook is due to tight supply and favorable demographics, despite affordability remaining pressurized. While some firms expect a mild correction this year, Zillow and CoreLogic expect national home prices to rise over the coming year.