Home Prices Set to Surge Despite Overvaluation: Fitch's Forecast Fitch Ratings anticipates a surge in home prices following a predicted Federal Reserve interest rate cut in 2024. Despite the central bank’s expected reduction of 75 basis points, the housing market, with 88% of metro areas overvalued, might offer limited relief. Home prices are projected to increase by 0%-3% in 2024 and by an additional 2%-4% in 2025. This rise could further strain affordability, especially for first-time and entry-level buyers, thereby potentially dampening demand. The overvaluation of homes has also intensified, with a 9.4% overvaluation in the second quarter of this year, up from 7.8% at the end of 2022. However, this view isn’t universal; for example, Realtor.com predicts a decrease in home prices by 1.7% in 2024, citing lower mortgage rates and decreased buyer urgency. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Gold Soars Amid Geopolitical Tensions: A Safe-Haven Surge READ MORE VP Harris Pledges No Fracking Ban, Emphasizes Clean Energy Progress READ MORE Ron Paul Urges End to Fed, Don't Tax the Rich READ MORE Silver Market Teeters on Edge as Volatility Drops Prices READ MORE Target Slashes Prices on 5,000 Items to Woo Inflation-Wary Shoppers READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment