2022 will bring more balance to the housing market. But don’t expect a buyer’s market; just more selection, less frenzy and slower price growth. We will see a rush to buy homes at the start of the year before mortgage rates rise. That early onslaught of demand will deplete the supply of homes for sale. In the second half of the year, a much needed increase in new construction will boost sales slightly. In 2022, there will be 1% more sales than in 2021, and by the end of the year, home price growth will slow to 3%.
Always happen. Then it will taper for awhile waiting for the couldn’t afford crowd to build up enough for downpayment. Then another rally
Looks like Zillow was wrong. Prices are leveling off or going down.
Ytd prices are 10-15% for almost all housing market. Prices could stay around here. Prices have already declined 5-8% from Apr peak. Price cuts are from overly optimistic price increase from Apr peak… my quick check indicates that prices are hovering at Feb-Mar prices which is 10-15% ytd.