Monday Market Update: Home Price Appreciation Past, Present & Future
Did you know home price appreciation can vary as much within the year as from year to year?!
Home Prices: Where do you think they will go in 2022? While there is no crystal ball and no way to predict how the market will play out this year, virtually all sources agree that home prices will continue to rise, albeit at a slower pace. This is the ‘deceleration’ you have heard about and will continue to hear about in the year ahead.
CoreLogic® has issued a revised forecast this month as to how home price appreciation will average in 2022, as well as which months may demonstrate the strongest growth.
As reported by Mortgage News Daily, “CoreLogic’s price forecast for this year anticipates that appreciation will exceed 10 percent for the first months of the year but will fall steadily to 3.5 percent by December 2022. The annual increases will average 9.6 percent.”
This is a stark contrast to an opposite pattern that we witnessed in 2021, in which home price gains started off at 10% in Q1 of 2021, but skyrocketed to 18% by Q4.
Below we have compiled home price appreciation by year for your comparison. Note that these figures are national averages based on data from CoreLogic® averaged over the 12-month period per year. There are times in the year where home price appreciation can vary as much within the year as it does compared to previous years. This is where we encourage you to chat with a local agent about your local micro markets with regards to timing and pricing. The best time to make a move is when it makes the most sense & cents for you!
All my best,
Bobbi Decker
DRE#00607999
Broker Associate
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
NAR Instructor….“Designations Create Distinctions”
CIPS, SRS, ABR, CRS, SRES, GRI, CLHMS, REI, AHWD, RSPS, MSLG
Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/
Bobbi's Blog
