How will home prices look like in 2022?

If you or anyone you know has been thinking of buying or selling a home, you probably wonder what home prices will look like next year. After a year of multiple offers and price increases, we are left wondering if prices will continue to increase or if we are due for a change in the opposite direction. That answer may affect what you do and when.

Let’s look at some of the projections from various industry powerhouses:

• Zillow, an online real estate marketplace, is forecasting an 11.7% appreciation in U.S. home values. This would indicate a slowdown in appreciation since over the last 12 months the typical home has increased 17.7% in value.

• CoreLogic forecasts only a 2.2% jump in the U.S. home prices.

• Freddie Mac is projecting a 5.3% price increase.

• Fannie Mae projects a 5.1% price increase.

If we average all those, we get to an average of about 6%. But what does this really mean to you?

My take is, don’t try to time the market. Buy or sell a home when the time is right for YOU.

For sellers
Regardless of what any projection says, the best time for you to sell your home is when you’re ready to do so. Ideally, we time it when it can get the most buyers possible, such as avoiding the holidays, but even then, homes are selling, just not for as much as other times of the year.

For Buyers
Projections are useful for getting an idea of what prices may look like next year, but they aren’t the only thing you should consider when deciding when to buy a home. There are so many other factors to consider such as your financial situation, the time of year, and even what your life plans look like over the next few years.

As soon as you start thinking about taking the next step into buying or selling a home, feel free to contact me to start the conversation and develop a strategy that will better suit your needs. It’s important for me to do the right thing for you and your family since a decision of this magnitude will impact you for years to come.