Everyone Wants To Know Will Home Prices Decline in 2022?
Will Home Prices Decline in 2022?
You might be asking yourself: if I buy a home now, will it lose value? Or will it continue to appreciate going forward? good news is, according to the experts, home prices are not projected to decline. Here’s why. Why the continued increase? It’s the simple law of supply and demand. When there are fewer items on the market than there are buyers, the competition for that item makes prices naturally rise.
What’s the biggest takeaway from this graph? None of the major experts are projecting depreciation in 2022.They’re all showing an increase in home prices next year.
What Does This Mean for the Housing Market?
While home price appreciation is expected to continue, it isn’t projected to be the record-breaking 18 to almost 20% increase the market saw over the past 12 months. Overall, it’s important to note that price increases won’t be as monumental as they were in 2021 – but they certainly won’t decline anytime soon. And when home price appreciation is in the forecast, that’s a clear indication your investment in homeownership is a sound one.
Let’s connect to make sure you’re up to date on what’s happening with home price appreciation in our market, so you can make an informed decision about your next move.