Fannie Mae predicts where home prices are headed next

Mortgage rates are expected to remain high through 2026 and 2027, while home prices are predicted to gradually rise by about 14.7% over the next five years, reaching an average of around $576,000 by 2030. Prices surged during the pandemic due to low mortgage rates and increased competition. A housing crash is unlikely, so buyers should focus on affordability and consider negotiating in buyer-friendly markets.