Existing home sales are anticipated to hit 4.71 million in 2024, up 13.5% from the 4.1 million projected for 2023, according to the National Association of Realtors.
The median price for existing home sales is expected to slightly increase to $389,500 in 2024, a 0.9% bump compared with 2023.
“Metro markets in southern states will likely outperform others due to faster job increases, while markets in the Midwest will experience gains from being in the most affordable region,” stated Lawrence Yun, chief economist at NAR.
NAR’s top real estate markets with “the most pent-up housing demand” in 2024 include Austin-Round Rock-Georgetown, Texas; Dallas-Fort Worth-Arlington, Texas; and Dayton-Kettering, Ohio.
The full NAR report can be found at this link.
