By Jessica Boehm | Axios
The Valley will see moderate home price increases in 2024 and more young people turning to single-family home rentals, real estate experts predict.
Why it matters: Last year, the real estate market saw the lowest number of home sales since 2008 as high interest rates left few options for would-be buyers and priced many middle-income families out of the market altogether.
Zoom in: Zillow senior economist Nicole Bachaud predicts that home prices may decrease marginally during the first half of the year as consumers come to terms with interest rates that are unlikely to drop to the historic lows we saw during the pandemic.
