The performance of the residential real estate market has been a major story line over the past year. Home price appreciation is a key indicator. According to the most recent indices, home values are on the rise this year.
These are the most recent percentages showing an increase in home prices year-over-year:
- The House Price Index derived from the Federal Housing Finance Agency: 18.8%
- The S. The S.
- The Price Insights Report – 18%
These dramatic increases can be seen in every price range and all parts of the country.
All Price Points Get Increases
The latest Home Price Index compiled by CoreLogic shows that each price range has at least a 19% annual increase.
Increases are in Every Region of the Country
According to the Federal Housing Finance Agency, every region of the country has seen at least 14.9% more home prices appreciation.
Increases are Across All Top 20 Metros of the Country
The U.S. According to the U.S.
What about price appreciation in 2022?
The balance of supply and demand determines the price. Over the past 18 months, single-family homes have been in high demand. The number of houses for sale was at historic lows. There are some positive signs on the supply side. Realtor.com reports:
“432,000 listings added to the national housing market in August. This is an increase of 18,000 compared to last year.”
However, there will be a shortage in supply relative to demand in 2022. CoreLogic reveals:
“Given widespread demand and the large number of standalone homes constructed during the past decade the single-family market will be undersupplied with 4.35 million units by 2020.”
However, most forecasts predict that home prices will increase in 2022. A survey of more than 100 economists, investment strategists and housing market analysts found that home price expectations expects a 5.12% appreciation rate next year. These are the 2022 home appreciation predictions from four major entities.
- The National Association of Realtors: 4.4%
- The Mortgage bankers Association: 8.4%
- Fannie Mae: 5.1%
- title=”Freddie Mac”>Freddie Mac: 5.3%
In 2022, price appreciation will slow compared to 2021’s record highs. It is expected to still be higher than the annual of 4.1% in the past 25 years.
You’ve likely seen your household wealth increase significantly if you own a home in the last year. In 2022, you can expect a nice increase. Consider buying now if you are thinking about buying a home. Prices are expected to rise through at least next years.
This post was written by Josh Dotoli! Josh is the owner of Josh Dotoli Group which is a laser-focused real estate team at Compass comprised of industry experts selling Fort Lauderdale’s best neighborhoods. This dynamic group is one of the top-selling real estate teams in South Florida with over $94 million in sales in the past 12 months alone. Looking for Luxury Oceanfront Condos For Sale In Fort Lauderdale? The Dotoli group has got you covered.