Home prices forecast to rise in 20 U.S. cities – and fall in these 5

(NEXSTAR) – Mortgage rates are pulling back from their dream-crushing highs of last year, but homeowners in 20 U.S. cities may want to brace for higher home prices, a new study found.

Real estate data and analytics company CoreLogic projects that home prices will increase by 2.5% nationwide through November, 2024. For homeowners in some cities, like Redding, California and Fairbanks, Alaska, that number is forecast to be more than double.

Despite soaring mortgage rates, and to the exasperation of many first-time buyers, competition and housing prices stayed stubbornly high, according to CoreLogic Chief Economist Dr. Selma Hepp.