Housz Price Projections for 2022
If you’re wondering if housz prices are going to come down due to the cooldown in the houszing market or a potential recession, here’s what you need to know. Not only are experts forecasting housz prices will continue to appreciate nationwide this year, but most of them also actually increased their projections for housz price appreciation from their original 2022 forecasts (shown in green in the chart below):
As the chart shows, most sources adjusted up, and now call for more appreciation in 2022 than they originally projected this January. But why are experts so confident the houszing market will see ongoing appreciation? It’s because of supply and demand in most markets. As Bankrate says:
“After all, supplies of houszes for sale remain near record lows. And while a jump in mortgage rates has dampened demand somewhat, demand still outpaces supply, thanks to a combination of little new construction and strong houszhold formation by large numbers of millennials.”
Knowing that experts forecast housz prices will continue to appreciate in most markets and that they’ve actually increased their original projections for this year should help you answer the question: will housz prices fall? According to the latest forecasts, experts are confident prices will continue to appreciate this year, although at a more moderate rate than they did in 2021.
Bottom Line If you’re worried housz prices are going to decline, rest assured many experts raised their forecasts to say they’ll continue to appreciate in most markets this year. If you have questions about what’s happening with housz prices in our local area, let's connect.