Experts Increase 2022 Home Price Projections

<article class="post-418175 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-418175"><span class="entry-date">August 17, 2022</span><div class="entry-header center-block text-center"><h1 class="entry-title">Experts Increase 2022 Home Price Projections</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Experts+Increase+2022+Home+Price+Projections&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fexperts-increase-2022-home-price-projections%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p><img alt="Experts Increase 2022 Home Price Projections | Simplifying The Market" class="webfeedsFeaturedVisual wp-post-image" decoding="async" link_thumbnail="" loading="lazy" sizes="auto, (max-width: 549px) 100vw, 549px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2022/08/16092901/20220817-KCM-Share-549×300.jpg" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2022/08/16092901/20220817-KCM-Share-549×300.jpg 549w, https://files.simplifyingthemarket.com/wp-content/uploads/2022/08/16092901/20220817-KCM-Share.jpg 750w" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" width="358"/></p>
<p>If you’re wondering if <a href="https://www.simplifyingthemarket.com/2022/07/21/think-home-prices-are-going-to-fall-think-again/?a=712984-fa409495d5d70154d03a25e81e9540e2">home prices</a> are going to come down due to the cooldown in the <a href="https://www.simplifyingthemarket.com/2022/06/14/is-the-housing-market-correcting/?a=712984-fa409495d5d70154d03a25e81e9540e2">housing market</a> or a <a href="https://www.simplifyingthemarket.com/2022/08/16/what-would-a-recession-mean-for-the-housing-market/?a=712984-fa409495d5d70154d03a25e81e9540e2">potential recession</a>, here’s what you need to know. Not only are experts forecasting home prices will continue to appreciate nationwide this year, but most of them also actually increased their projections for home price appreciation from their original 2022 forecasts (<em>shown in green in the chart below</em>):<span id="more-47012"></span></p>
<p><a href="https://files.simplifyingthemarket.com/wp-content/uploads/2022/08/16162355/20220817-MEM-Eng-.png"><img alt="Experts Increase 2022 Home Price Projections | Simplifying The Market" class="aligncenter wp-image-47021" decoding="async" height="488" loading="lazy" sizes="auto, (max-width: 650px) 100vw, 650px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2022/08/16162355/20220817-MEM-Eng-.png" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2022/08/16162355/20220817-MEM-Eng-.png 960w, https://files.simplifyingthemarket.com/wp-content/uploads/2022/08/16162355/20220817-MEM-Eng–400×300.png 400w" width="650"/></a>As the chart shows, most sources adjusted up, and now call for more appreciation in 2022 than they originally projected this January. But why are experts so confident the housing market will see ongoing appreciation? It’s because of <a href="https://www.simplifyingthemarket.com/2022/07/25/whats-causing-ongoing-home-price-appreciation/?a=712984-fa409495d5d70154d03a25e81e9540e2">supply and demand</a> in most markets. As <em>Bankrate</em> <a href="https://www.bankrate.com/real-estate/june-2022-fed-housing-comments/">says</a>:</p>
<blockquote>
<p><em>“After all, supplies of homes for sale remain near record lows. And while a jump in mortgage rates has dampened demand somewhat, <strong>demand still outpaces supply, thanks to a combination of little new construction and strong household formation by large numbers of millennials</strong>.”</em></p>
</blockquote>
<p>Knowing that experts forecast home prices will continue to appreciate in most markets and that they’ve actually increased their original projections for this year should help you answer the question: <em>will home prices fall?</em> According to the latest forecasts, experts are confident prices will <a href="https://www.simplifyingthemarket.com/2022/08/11/what-does-the-rest-of-the-year-hold-for-home-prices/?a=712984-fa409495d5d70154d03a25e81e9540e2">continue to appreciate</a> this year, although at a more moderate rate than they did in 2021.</p>
<h3><strong>Bottom Line</strong></h3>
<p>If you’re worried home prices are going to decline, rest assured many experts raised their forecasts to say they’ll continue to appreciate in most markets this year. If you have questions about what’s happening with home prices in our local area, let’s connect.</p>
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