Zillow was wrong about Utah home prices...

Last month, economists at Zillow released their annual home price forecast for 2024 and predicted that national home prices this year would go down!

But just this past week, Zillow’s senior economist Orphe Divounguy revised their forecast stating that home prices would most likely increase by an average of 4.2% between January 2024 and January 2025.  Some markets could see an even higher increase.

The map below suggests that Utah could see an increase of 5.4%.

So what does this mean for those thinking about moving this spring?

1. More buyer demand for your home as mortgage rates continue to come down.

2. Potentially a higher sales price for your home.

3. More money to put down on your next home.

Everyone’s situation is different, if you’re considering making a move this spring and have questions, feel free to contact me. I’d be happy to talk and review all of your options.