(AbsoluteNews.com) – With the surge of housing prices in 2020, many who remember the crash of 2008 might wonder when the other shoe will drop. Fortunately for homeowners, Zillow predicted no decrease in home values through 2022. In fact, the company’s December 15 report indicated an increase of 13.6% from October 2021 through the same month in 2022. However, not everyone agreed with Zillow’s assessment. CoreLogic forecasts a modest 1.9%, and Realtor.com foreshadows a similar 2.9% growth rate.
Goldman Sachs and Fannie Mae are more on Zillow’s side, with predictions of 16% and 7.9%, respectively.
In September, @zillow released a 2022 forecast which predicted US home prices would climb another 11.7% over the coming year 📈
— Anderson Business Advisors (@ChooseABA) November 23, 2021
For homeowners looking to sell in the new year, the projections are good news. Home inventories are still low, and although experts believe more homes will hit the market in 2022, the increase probably won’t meet demand. That means sellers will likely be able to unload their homes quickly for a hefty price. The problem might be for those who just sold their homes finding a replacement home to move into at an affordable price, and for first-time buyers finding a reasonably-priced starter home.
Buyers who can find a house they’d like to purchase will still enjoy low mortgage rates, although the Fed experts expect interest rates to rise slightly in 2022. Higher prices combined with increased yields mean a higher mortgage payment for potential purchasers. If buyers find a home they like, they should make a decision quickly to beat the competition.
That said, the wide range of predictions from housing professionals show no one knows what 2022 will bring.
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