Zillow’s annual predictions for the hottest housing markets of the year. Factors include expected home value growth, projected change in owner-occupied households and job growth compared to new construction.
Baby boomers and millennials represent two enormous generations, and both are very active in the housing market. Baby boomers are hardly exiting the market as they age and millennials are aging into their prime home buying years as they hit their early and mid-thirties.
Source: Zillow research
Mortgage Rates
Decrease to Lowest
Level Since May 2023
Mortgage rates decreased this week, reaching their lowest level since May of 2023. This is an encouraging development for the housing market and in particular first-time homebuyers who are sensitive to changes in housing affordability. However, as purchase demand continues to thaw, it will put more pressure on already depleted inventory for sale
