Home Price Appreciation Forecast for 2022
As we enter the last quarter of the year, experts have started to share their forecast of price appreciation in 2022.
Home prices have been skyrocketing this year, which sparks the question: what's going to happen next year?
According to Home Price Expectation Survey, a survey of over 100 economists, investment strategists, and housing market analysts, there will be a 5.2% appreciation next year. Here are the 2022 home appreciation forecasts from the four other major entities:
- The National Association of Realtors (NAR): 4.4%
- The Mortgage Bankers Association (MBA): 8.4%
- Fannie Mae: 5.1%
- Freddie Mac: 5.3%
Price appreciation is also expected to slow down in 2022 compared to this year's record highs, however, it is expected to be greater than the annual average of 4.1% over the last 25 years.
What does it mean for you as a buyer? With the mortgage rates still at historic lows, it is great to consider buying now as prices will continue to increase until 2022.
Talking to your trusted real estate expert is definitely going to help you come up with a sound decision for your next real estate move.