Where will US home prices go through 2027? This is what Goldman Sachs and Moody’s expected

while Most forecasters of house prices It only publishes annual or 12-month forecasts, and both Goldman Sachs and Moody’s offer multi-year forecasts. Given that Goldman Sachs recently updated its forecasts for 2024-2027, ResiClub I reached out to Moody’s for its latest multi-year forecast for US home prices.

Goldman Sachs National Home Price Forecast:

2024: +3.8%

2025: +4.4%

2026: +4.9%

2027: +4.9%

Moody’s National Home Price Forecast:

2024: +1.5%

2025: +0.3%

2026: +0.9%

2027: +1.7%

Keep in mind that even if Goldman Sachs accurately forecasts national home price growth, there could be regional corrections to home prices during that period. Likewise, if Moody’s forecasts hold true and national home prices remain flat for a few years, home prices in many regional areas are likely to decline.

Goldman Sachs opinion:

“We expect housing demand to remain strong, reflecting supportive demographic trends and a healthy job market,” Goldman Sachs analysts wrote in a report published last week. “The combination of modestly high supply growth and strong demand should lead to only a modest increase in the homeowner vacancy rate (GS forecast of 1.1% for Q4 2025 versus 1.4% in 2019). And against the backdrop of a still-tightening housing market But stepping back, we expect national home prices to rise 3.8% in December compared to December of this year.

Moody’s position:

“We expect homes for sale to steadily increase as more current homeowners need to sell for demographic reasons — death, divorce, children, job changes — and lower mortgage rates help ease interest rate stabilization,” says Mark Zandi, Moody’s chief economist. ResiClub. “Lower interest rates will also support housing demand, but the increase in housing supply will be more significant, weighing on house price gains.”

Big picture, Goldman Sachs believes national home price growth, as measured before Case-Shiller National Home Price IndexIt will remain close to its historical annual average of +4.5% between 1988 and 2023. Meanwhile, Moody’s expects national home prices to see a period of sideways movement.