Market Forecast for the Rest of 2022

Keeping Current Matters has put out their forecast for the rest of 2022 and this is GREAT NEWS for both buyers and sellers. 

For buyers, you are going to continue to see the moderation of home sales. The interest rates have allowed for the sales softening to be more in line with pre-pandemic sales. This could mean some homes will sell without multiple offers and there could  be more homes available to choose from.

For sellers there is even more good news. First, home prices will continue to appreciate. Though more moderately than last year, the prices are expected to climb an average of 10.3% this year. Though this is a much more moderate appreciation from the last few years, prices are not expected to fall. Second, mortgage rates are also responding to inflation rates, though they do not increase equally. Rates will stabilize when the peak inflation appears. When the inflation is contained, mortgage rates may even go down slightly.

That’s a ‘general snapshot’ for our National market, to hear local details about what your home’s value and local neighborhood snapshot are, call Masha. She would be happy to provide relevant stats & perspective, and an estimate on what your home value AND your possible equity look like in today’s market. Let’s track the information and see if now makes sense!