Slight drop in Zillow’s home sale projection

Zillow now\[expects](https://www.zillow.com/research/home-value-sales-forecast-33822/?utm_source=www.readtheblueprint.com&utm_medium=newsletter&utm_campaign=the-biggest-money-making-home-renovations) 4.05 million existing home sales in 2024, down from last month’s prediction of 4.10 million. While the company expects a mild recovery in sales later this year, recent mortgage rate increases have dampened some of Zillow’s growth expectations from the start of 2024. Also in the report: - Zillow anticipates that home values will decline by 0.9% over the next 12 months. - New for-sale listings have seen a notable jump, up 15.5% year-over-year in April and up from 3.8% month-over-month #### **Our take** We continue to see the effects of those high mortgage rates. They’re making homes less affordable and keeping sales down. But we’re taking a wait-and-see approach to this latest forecast. We need to see whether we get a rate cut from the Fed. If we do, then this forecast goes out the window and all bets are off. facebook-letter-logo x-logo linkedin-logo pinterest-logo [Facebook](https://www.facebook.com/sharer.php?u=https%3A%2F%2Fapfreg.com%2Fslight-drop-in-zillows-home-sale-projection%2F) [X](https://x.com/intent/post?url=https%3A%2F%2Fapfreg.com%2Fslight-drop-in-zillows-home-sale-projection%2F&text=Slight+drop+in+Zillow%E2%80%99s+home+sale+projection) [Pinterest](https://pinterest.com/pin/create/link/?url=https%3A%2F%2Fapfreg.com%2Fslight-drop-in-zillows-home-sale-projection%2F) [LinkedIn](https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fapfreg.com%2Fslight-drop-in-zillows-home-sale-projection%2F&title=Slight+drop+in+Zillow%E2%80%99s+home+sale+projection&summary=Zillow+now%C2%A0expects%C2%A04.05+million+existing+home+sales+in+2024%2C+down+from+last+month%E2%80%99s+prediction+of+4.10+million.+While+the+company+expects+a+mild+recovery+in+sales+later+this+year%2C+recent+mortgage+rate+increases+have+dampened+some+of+Zillow%E2%80%99s+growth+expectations+from+the+start+of+2024.+Also+in+the+report%3A+Zillow+anticipates+that+home+values+will+decline+%5B%E2%80%A6%5D)