Many Experts Raise Home Price Forecasts

Many Experts Raise Home Price Forecasts

  • Gary Mooers
  • 08/24/22

Why experts expect price appreciation:

  1.  Low unemployment
  2. Lender standards are strict
  3. Foreclosure activity is extremely low, still dropping, less than half of a rate that concerns experts.  The rate was 14% during the Great Recession, today it is 0.4% of homeowners were facing possible foreclosure in the 2nd quarter of 2022.  91% of those had at least some equity built up in their homes.
  4. Inventory is still extremely low, up 27% in this country vs. the same week in 2021, but inventory is down 42.8% vs. the same week in 2019.
  5. 81% of 1st-time homebuyers last year were Millennials.  45% of all home sales were Millennials. They are in their peak homebuying years.

Work With Us

Ready to begin your real estate journey? Our team will guide and support you every step of the way.