Expert Housing Market Forecasts for the Second Half of the Year

 The housing market is at a turning point. That may leave you wondering: is it still a good time to buy a home? Should I make a move this year? Let's turn to the experts for projections on what the second half of the year holds for residential real estate.

-Where Mortgage Rates Will Go Depends on Inflation
If inflation continues to rise, it’s likely that mortgage rates will respond.

When rates rise, they impact affordability and your purchasing power. That’s why it’s crucial to work with a team of professionals, so you have expert advice to help you make an informed decision about your best move.

-The Supply of Homes for Sale Projected To Continue Increasing
Recently, realtor.com updated their 2022 inventory forecast. They increased their projections for inventory gains dramatically, going from a 0.3% increase at the beginning of the year to a 15.0% jump by the end of 2022.

More homes to choose from is great news if you’re craving more options for your home search. Housing supply is still low, so you’ll need to partner with an agent to stay on top of what’s available in your market.

-Home Price Forecasts Call for Ongoing Appreciation
Experts are not calling for prices to decline, rather they’re forecasting they’ll continue to climb, just at a more moderate pace this year. On average, homes are projected to appreciate by about 8.5% in 2022

That’s why, if you’re thinking about buying your first home or you’re ready to make a move, it may make sense to do so now before prices climb higher. But rest assured, once you buy a home, that price appreciation will help grow the value of your investment.

DM me to discuss your goals and what lies ahead, so you can determine the best plan for your move.


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