What's In Store For The Remainder Of The 2022 Housing Market?
Mortgage rates have been very volatile but seem to have stabilized in the 5%’s. This leads experts to predict that rates will stay in the 5’s over the next year and Freddie Mac, Fannie Mae & MBA predict that rates will slowly creep down.
Experts predict we will see approximately see 10% appreciation by the end of year with the majority of that already being captured. The market is still hot and there is still a lot of demand, so prices are likely to continue to go up.
However, there are some indicators that the market may be slowing down a bit. Inventory is starting to pick up and there has been a slight decrease in demand. So, while prices are still likely to go up, they may not increase at the same rate as they have been.
All in all, it looks like it’s still a great time to buy or sell a home. If you’re thinking about buying, now is definitely a good time to do it – especially if you plan on staying in your home for a while. If you’re thinking about selling, you should definitely consider doing it sooner rather than later – before prices start to level off or go down.