Housing Market Update 2024. During q1 2024, amidst sustained positive sentiments in the residential market, average housing prices increased annually by 10%. But high housing costs will remain a problem for young families, which will increase demand for large rentals and force president.

The homeownership rate in q1 2024 ticked down to 65.6% from. Homes are still spending less time on the market than last year, but the gap is shrinking.