Goldman Sachs: U.S. Home Prices to Fall -7.5% in 2023, -2.4% in 2024

Twitter ^ | 01/10/2023 | Lance Lamber

[millenial4freedom]

#NEW Goldman Sachs once again downgrades its housing outlook.

The investment bank projects that U.S. home prices, as measured by Case-Shiller, will fall -7.5% in 2023 and another -2.2% in 2024. Then national house prices will begin to rebound (+3.8%) in 2025.

[millenial4freedom]

Good or bad depending on how you look at it. If you're a homeowner trying to tap into your home equity, this could be bad. On the other hand, if you're a young person trying to enter the housing market, this could be a good opportunity after a 30%+ rate of appreciation in 2 years.

[PittsburghAfterDark]

We just sold a property in July, closed in October for the July selling price.

Its Zestimate was down $33,000 in the last 30 days.

[shadowlands1960]

This will probably have less an impact in CA. I’m still getting silly offers for my home.

[TomGuy]

I have noticed on Realtor.com that local listings don’t seem to be selling as fast as they were six months ago.

Also, more listings seem to have reduced prices by a $thousand to several $thousand.

It is still nearly impossible to find anything livable under $130K.

[JoeRender]

The Southeast is still hot. Lots of people moving down here. There are a lot of poachers calling to buy my house for cash with low ball offers. And they can suck it.