What will 2026 bring?

I don’t usually do forecasts. I suppose you could say that my Metro Area Analysis Packages are forecasts, but they are a sort of “all else equal” forecast with a lot of “all else” to account for.

I am occasionally asked to take part in surveys. Last year, Lance Lambert asked 26 experts for 2025 home price forecasts. They ranged from -2.0% to 10.8%. I said 0.1%. The change in the Zillow ZHVI turned out to be 0.1%.

I also have been taking part in the Pulsenomics Home Price Expectations Survey for Fannie Mae. I forecast 0% for 2025 and 3% price appreciation for 2026.

More forecasts and random thoughts below.