Will Home Prices Fall This Year? Here's What Experts Say.

Reblogger
Real Estate Agent with Realty Group Referrals 16766
Original content by Shayne Stone 0561240

Will Home Prices Fall This Year? Here's What Experts Say.

 

Many people are wondering: will home prices fall this year? Whether you're a potential homebuyer, seller, or both, the answer to this question matters for you. Lets break down what's happening with home prices, where experts say theyre headed, and how this impacts your homeownership goals.

What's Happening with Home Prices?

Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says:

Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.

So why are prices climbing so much? Its because there are more buyers than there are homes for sale. This imbalance is expected to maintain that upward pressure on home prices because homes for sale are a hot commodity in todays low-inventory housing market.

Where Do Experts Say Prices Will Go from Here?

Experts say the housing market isn't set up for a price decline due to that ongoing imbalance between supply and demand. In the latest home price forecasts for 2022, they're calling for ongoing appreciation throughout the year (see graph below):

Will

While the experts are forecasting more moderate price appreciation, the 2022 projections show price gains will remain strong throughout this year. First American explains it like this:

While house price growth is expected to moderate from the rapid pace of 2021, strong home buyer demand against a backdrop of historically tight inventory of homes for sale will likely keep appreciation positive in the coming year.

What Does That Mean for You?

The biggest takeaway is that none of the experts are projecting depreciation. If you're a homeowner thinking about selling, the higher price appreciation over the last two years has been great for your homes value, but its also something you should factor in when planning your next steps. If you'll also be buying a home after selling your current house, you shouldn't wait for prices to fall. Waiting will only cost you more in the long run because climbing mortgage rates and rising home prices will have an impact on your next home purchase. Freddie Mac says:

If you're thinking about waiting until next year and that maybe rates are higher, but you'll get a deal on prices well that's risky. It may be more advantageous to purchase this year relative to waiting until 2023 at this time.

Bottom Line

If you're thinking of selling to move up, you shouldn't wait for prices to fall. Experts say prices will continue to appreciate this year. That means, if you're ready, buying your next home before prices climb further may make the most financial sense. Lets connect to begin the process of selling your current home and looking for your next one before prices rise higher.

 

 

 

e signature for Shayne Stone

“YOUR Rock-Solid Choice Realtor for Making Home Sellers a Profit & Home Buyers Equity”

Facebook Icon Instagram Icon Twitter Icon Blog Icon
Home Search Icon Market Insight Icon Home Value Icon

 

 

Posted by

Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

6 Montgomery Village Ave., Suite 200, Gaithersburg, MD 20879

Office:  301-258-7757 

Comments (20)

Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Please be sure to leave comments at the original blog by Shayne Stone

May 21, 2022 06:20 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Make it a habit to post a daily reblog. It is an easy way to pay it forward.

May 21, 2022 06:20 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

A great choice for a repost Roy Kelley good information and mostly correct info for once - our media tends to be so negative, it's good to see a balanced report.

May 21, 2022 06:27 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Roy, great choice for a reblog, as everyone is wondering about the prices.

May 21, 2022 06:34 AM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Good morning, Roy Kelley.  I enjoyed reading this post.  I had missed it and appreciate your sharing it.  Have a great weekend!

May 21, 2022 06:45 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great information.  Thanks for sharing and enjoy your weekend!

May 21, 2022 07:02 AM
Eric Bouler
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs

Great Blog today about changes. I do not know what will happen....

May 21, 2022 07:38 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Roy Kelley very good helpful report for what experts say about will home prices fall this year.

May 21, 2022 09:01 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Roy Kelley and great information to share with us here in the rain about Shayne blog.  Most people need this advice.

May 21, 2022 10:52 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

We will see, Great information.  Thanks for sharing and have a wonderful day! bill

May 21, 2022 10:56 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Roy Kelley housing experts are a lot like the weatherman, they are more wrong than they are right.  But in this case there prediction is correct.

May 21, 2022 01:40 PM
Brenda J. Andrew
ULTIMA REAL ESTATE - Corpus Christi, TX
Professional Realtor in Corpus Christi, TX

Thanks for sharing this one Roy Kelley . I'll check out the original and leave comments there.  It was good to hear this information and I would have missed it had you not shared!  Have a beautiful and blessed day!

May 23, 2022 07:12 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Fantastic choice for a re-blog Roy. Wishing you and Delores a wonderful week!

May 23, 2022 09:40 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much for your comments. It is always good to hear from you.

May 23, 2022 09:50 AM