Home Prices Set To Climb In 2024: Will Your Region Emerge As Winner Or Loser?
Portfolio Pulse from Piero Cingari
Zillow Group Inc. (NASDAQ:ZQ) forecasts a 4.2% increase in U.S. home prices from Jan 2024 to Jan 2025, despite economic challenges and high interest rates. The SPDR Homebuilders ETF (NYSE:XHB) has seen a nearly 50% surge since late October 2023. Housing market resilience is attributed to limited supply, with housing starts dropping by 14.8% in January 2024. Zillow's data indicates varied regional performance, with some cities expected to see significant growth and others facing declines.
February 28, 2024 | 1:11 pm
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POSITIVE IMPACT
The SPDR Homebuilders ETF (NYSE:XHB) has surged almost 50% since late October 2023, reflecting optimism in the homebuilder sector.
The significant surge in XHB's value since late October 2023 is indicative of strong investor confidence in the homebuilder sector, likely driven by the limited supply and resilience of the housing market.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Zillow Group Inc. forecasts a 4.2% increase in U.S. home prices from Jan 2024 to Jan 2025, indicating a positive outlook for the housing market despite economic challenges.
Zillow's positive forecast for the U.S. housing market, despite economic challenges and high interest rates, suggests a strong market position and potential for increased investor interest in Zillow's stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90