Graham Stephan, relaying another source: Median house price will fall

Said on Jan 3, 2024, at 9:51 in the video.

What was said
Graham Stephan

@grahamstephan

“now on the other hand redin believes that median prices will see a drop of 1% in 2024 Zillow thinks we'll see a drop of0 2% Morgan Stanley anticipates a price drop of 3% and JP Morgan believes that affordability could be resolved by the time 2027 comes around”
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PredictionMedian house pricewill fallby Dec 31, 2024
What happened
Relayed

Somebody else's forecast — not scored

The window it was checked over

Median house priceWindow checkedRecession (NBER)
$360,000$380,000$400,000$420,000$440,000$460,000$480,000202120222022202320242025Said on Jan 3, 2024
$350,000$400,000$450,000$500,0002021202220232025Said on Jan 3, 2024

Median sales price of houses sold: U.S. Census Bureau and HUD via FRED, figures as first published. The shaded span is the window the call was checked over; grey bands are recessions.

Result at every window

All windows are shown, so none is picked

Somebody else's forecast — not scored

What was said around it

going to be going higher especially since real estate is highly localized but because larger metros are facing some affordability issues areas like Miami San Diego Los Angeles Las Vegas Tampa Nashville Austin are in the locations likely to see a marginal price decline While others like Indianapolis New Orleans Chicago Pittsburg Detroit and Louisville yeah I said that one correctly because I learned the hard way when I visited could see prices increase as high as 5% now on the other hand redin believes that median prices will see a drop of 1% in 2024 Zillow thinks we'll see a drop of0 2% Morgan Stanley anticipates a price drop of 3% and JP Morgan believes that affordability could be resolved by the time 2027 comes around now in terms of what I'm doing though I'll be honest I have been completely blown away by the strength of the housing market and how resilient it's been like I said back in January of 2022 that I wanted to get back into the real estate market by buying where I live in Las Vegas through some commercial real estate so I looked and looked and waited and I looked again and I tried to find a deal that made sense to buy and it waiting and uh here I am I'm still waiting now

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