Experts Increase 2022 Home Price Projections

Home>> Experts Increase 2022 Home Price Projections

If you’re wondering if home prices are going to come down due to the cooldown in the housing market or a potential recession, here’s what you need to know.

Experts Increase 2022 Home Price Projections

 Not only are experts forecasting home prices will continue to appreciate nationwide this year, but most of them also actually increased their projections for home 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 housing market will see ongoing appreciation? It’s because of supply and demand in most markets. As Bankrate says:

“After all, supplies of homes 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 household formation by large numbers of millennials.”

Knowing that experts forecast home 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 home 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.

If you’re worried home 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 home prices in our local area, let’s connect.

With rising home values, it may be a great time to see how you could benefit from a refinance. Check out our interactive mortgage calculator to see if this is the right move for you:

Interested to see how a refinance could help you consolidate debt, check out this calculator:

SHANE CHRISTOPHER

Nominated for Loan Officer of the Year by ASREB in 2017 and a Mortgage Loan Officer since 2013, Shane holds more than 30 years of customer sales and service career experience, Gilbert-based Shane Christopher serves as a Mortgage Advisor with Geneva Financial. He is renowned—and respected—for a hometown attitude of service with a smile and treating clients like family.

Shane@Genevafi.com