2024 Housing Market Predictions: Cities Where Prices Will Rise and Fall
CoreLogic's U.S. Home Price Insights report for 2024 identifies several American cities, including Cape Coral-Fort Myers, Florida, as having a high risk of home price declines in the coming year. Other areas at risk include Youngstown-Warren-Boardman (Ohio and Pennsylvania), Atlanta-Sandy Springs-Roswell (Georgia), West Palm Beach-Boca Raton-Delray Beach, and Deltona-Daytona-Beach-Ormond Beach (Florida). While CoreLogic does not project actual price declines, their assessment serves as a barometer for potential market adjustments. A separate report by Realtor.com also predicts home price declines in 20 U.S. cities, with Austin, Texas, expected to see the largest dip of 12.2 percent in 2024. Factors contributing to the expected downturn include higher mortgage rates, evolving economic conditions, and shifting buyer behavior.