Zillow economists project the Zillow Home Value Index to fall 0.1% from April 2026 to April 2027. The revision is smaller than prior 12-month national forecasts of +0.1% (April) and +0.5% (March). Current home prices are up 0.7% year over year, and the outlook expects prices to stay near that subdued pace. With wage growth at 3.6%, fundamentals should improve as long as price growth remains below wages. Zillow expects affordability to improve slightly in 2026 if mortgage rates do not spike. Among the 300 largest metros, the largest increases are forecast for Syracuse (+4.8%), Rockford (+4.5%), Atlantic City (+4.1%), Utica (+4.0%), and Rochester (+3.9%).
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