The 2024 housing market was nothing short of "wild," to put it lightly. We came from years of unprecedented growth, rock-bottom mortgage rates, and fiery homebuyer demand. While some predicted a housing market crash, we were quite sure that real estate prices would stay stable—and that’s precisely what happened! So, before we enter the 2025 housing market, we’re recapping 2024 with all its trends and surprises so you don’t get caught off guard next year!

We’re touching on the big topics: prices, inventory, affordability, best and worst markets, and the commercial real estate crash. Why did prices RISE even when buyer demand fell significantly? Why did the existing housing inventory stay so low? And is now the best time to buy multifamily after its massive value drop in 2024?

Get prepared to make 2025 your best year yet, but don’t make the same mistakes of the past. Stick around; we’re giving you your 2024 housing market in review!

 In This Episode We Cover:

The biggest trends (and surprises) of the 2024 housing market

Why did home prices rise in 2024 even with buyer demand so low?

Our affordability crisis keeping many Americans renting instead of buying

The commercial real estate crash and why multifamily is seriously struggling now

Hottest (and coldest) real estate markets that nobody would have expected

The cities that are seeing the most rent price growth (and some with the least)

And So Much More!

Links from the Show

Join BiggerPockets for FREE

Let Us Know What You Thought of the Show!

Ask Your Question on the BiggerPockets Forums

Grab Dave’s New Book, “Start with Strategy”

Find an Investor-Friendly Agent in Your Area

How to Invest in Real Estate in 2025 (with NO Experience)

Connect with Dave

(00:00) Intro

(01:12) Sluggish Homebuying

(03:03) REALLY Low Affordability

(06:19) The "Lock-In Effect"

(06:50) Home Prices Still Rising

(07:55) Worst/Best Markets

(10:54) Multifamily Crashed Hard

(15:52) Commercial Real Estate's Big Problem

(17:36) Rent Prices Still Growing

(20:16) Key Takeaways

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1053

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].

Learn more about your ad choices. Visit megaphone.fm/adchoices