Nominal home prices are expected to rise modestly by 1% to 3% , but because wages are growing at a faster rate (3.6%+), the "real" cost of buying is technically declining for many.
“Home price growth will be minimal—roughly 2% to 3%—about the same as overall consumer price inflation. Generally, wage growth will be above that. So, it's a year where people's income begins to rise a little faster than consumer price inflation and home...” National Association of REALTORS® home buyers
Large builders are offering significant perks to move inventory, including mortgage rate buydowns , closing cost assistance, and upgrades. Nominal home prices are expected to rise modestly
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