What Does the Future Hold, Home price appreciation is slowing as the housing market cools in response to the dramatic rise in mortgage rates. 안전한 카지노사이트
And, if you’ve been paying attention to headlines, you’ve probably noticed a wide range of opinions advocating for everything from falling home prices to continued appreciation.
But what is the truth? What is the most likely outcome going forward?
While opinions vary, the most likely outcome is that we will fall somewhere between slight appreciation and slight depreciation.
Here’s a look at the most recent expert forecasts to ensure you have the most up-to-date information today.
What Experts Think Will Happen to Home Prices Next Year
The graph below depicts the most recent forecasts from five housing industry experts.
These are the experts whose projections have been most recently updated based on current market trends:
The three blue bars in the graph represent experts predicting continued home price appreciation, albeit at a slower rate than in recent years.
The red bars on the graph represent experts predicting a drop in home prices.
What Does This Really Mean?
Basically, experts are split on what to expect in 2023. Home prices will likely fall slightly in some markets while continuing to rise in others.
It all depends on the conditions in your local market, such as how hot it was in recent years, current inventory levels, buyer demand, and other factors.
The good news is that home prices are expected to quickly return to more normal levels of appreciation.
Wells Fargo’s most recent forecast indicates that, while prices will fall in 2023, they will recover and become net positive in 2024. 카지노사이트
That forecast predicts 3.1% annual appreciation in 2024, which is much closer to the long-term average of 4% annual appreciation.
In addition, the Pulsenomics Home Price Expectation Survey (HPES), a poll of over one hundred industry experts
Predicts continued appreciation of 2.6 to 4% from 2024 to 2026.
This demonstrates that, even if prices fall slightly next year, it is unlikely to be a long-term trend.
Don’t let fear or uncertainty derail your plans.
If you’re unsure about where prices are headed or how to make sense of what’s going on in today’s housing market
Contact a local real estate professional for assistance every step of the way.
Bottom Line
The housing market is changing, and it’s a confusing place right now.
The best way to navigate that shift is to rely on a trusted real estate professional to help you make confident and informed decisions about what’s going on in your market. 카지노 블로그