{"id":7764,"date":"2022-05-10T06:00:45","date_gmt":"2022-05-10T10:00:45","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=7764"},"modified":"2022-05-10T06:00:45","modified_gmt":"2022-05-10T10:00:45","slug":"will-home-prices-fall-this-year-heres-what-experts-say","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=7764","title":{"rendered":"Will Home Prices Fall This Year? Here\u2019s What Experts Say."},"content":{"rendered":"
\n

\"Will<\/p>\n

Many people are wondering: will <\/em>home prices<\/em><\/a> fall this year?<\/em>\u00a0Whether you\u2019re a potential homebuyer<\/a>, seller<\/a>, or both, the answer to this question matters for you. Let\u2019s break down what\u2019s happening with home prices, where experts say they\u2019re headed, and how this impacts your homeownership goals.<\/span><\/p>\n

What\u2019s Happening with Home Prices?<\/strong>\u00a0<\/strong><\/h4>\n

Home prices have seen 121 consecutive months<\/a> of year-over-year increases. CoreLogic<\/em> says<\/a>:<\/p>\n

\n

\u201cPrice appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.\u201d<\/em><\/p>\n<\/blockquote>\n

So why are prices climbing so much? It\u2019s because there are more buyers<\/a> than there are homes for sale. This imbalance is expected to maintain that upward pressure on home prices because homes for sale are a hot commodity in today\u2019s low-inventory housing market<\/a>.<\/p>\n

Where Do Experts Say Prices Will Go from Here?<\/strong><\/h4>\n

Experts say the housing market<\/a> isn\u2019t set up for a price decline due to that ongoing imbalance between supply and demand<\/a>.\u00a0In the latest home price forecasts for 2022, they\u2019re calling for ongoing appreciation throughout the year (see graph below<\/em>):<\/p>\n

\"Will<\/a><\/p>\n

While the experts are forecasting more moderate price appreciation, the 2022 projections show price gains will remain strong throughout this year. First American<\/em> explains<\/a> it like this:<\/p>\n

\n

\u201c<\/em>While house price growth is expected to moderate from the rapid pace of 2021, strong home buyer demand against a backdrop of historically tight inventory of homes for sale will likely keep appreciation positive in the coming year.\u201d<\/strong><\/em><\/p>\n<\/blockquote>\n

What Does That Mean for You?<\/strong><\/h4>\n

The biggest takeaway is that none of the experts are projecting depreciation<\/strong>. If you\u2019re a homeowner thinking about selling, the higher price appreciation<\/a> over the last two years has been great for your home\u2019s value<\/a>, but it\u2019s also something you should factor in when planning your next steps. If you\u2019ll also be buying a home after selling your current house, you shouldn\u2019t wait for prices to fall.\u00a0Waiting will only cost you more in the long run because climbing mortgage rates<\/a> and rising home prices<\/a> will have an impact on your next home purchase. Freddie Mac<\/em> says<\/a>:<\/p>\n

\n

\u201cIf you\u2019re thinking about waiting until next year and that maybe rates are higher, but you\u2019ll get a deal on prices \u2013 well that\u2019s risky. <\/em><\/strong>It may be more advantageous to purchase this year relative to waiting until 2023 at this time.\u201d<\/em><\/p>\n<\/blockquote>\n

Bottom Line<\/strong><\/h3>\n

If you\u2019re thinking of selling to move up, you shouldn\u2019t wait for prices to fall. Experts say prices will continue to appreciate this year. That means, if you\u2019re ready, buying your next home before prices climb further may make the most financial sense. Let\u2019s connect to begin the process of selling your current home and looking for your next one before prices rise higher.<\/p>\n

Content previously posted on Keeping Current Matters<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\"WillMany people are wondering: will home prices fall this year?\u00a0Whether you\u2019re a potential homebuyer, seller, or both, the answer to this question matters for you. Let\u2019s break down what\u2019s happening with home prices, where experts say they\u2019re headed, and how this impacts your homeownership goals. What\u2019s Happening with Home Prices?\u00a0 Home prices have seen 121 [\u2026]<\/div>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","footnotes":""},"categories":[3,84,85,86,89,121],"tags":[],"class_list":["post-7764","post","type-post","status-publish","format-standard","hentry","category-blog","category-for-buyers","category-for-sellers","category-housing-market-updates","category-move-up-buyers","category-pricing"],"_links":{"self":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/7764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7764"}],"version-history":[{"count":0,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/7764\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}