What's Going to Happen with Home Prices This Year?

You may be thinking of selling because you’ve heard about how you can benefit from today’s rising home prices. But will that trend continue?

Where Will Home Values Go from Here?

According to the U.S. Home Price Insights Report from CoreLogic, home values increased by an average of 15% in 2021. That dramatic rise in home prices is a direct result of more buyers in the market (demand) than houses available for sale (supply). When demand is high and supply is low like it is right now, prices naturally rise. And while this is great news for what your house is worth today, you may be wondering what the future holds.

A Look at Expert Projections

The graph below shows 2022 home price forecasts from several key industry experts. The average of these projections indicates an expected 6.1% home price appreciation in 2022. While this isn’t the dramatic 15% the market experienced last year, it is a continued increase. Basically, experts are indicating home values will continue to climb – not decline.

What Does This Mean for You?

As a seller, you can rest assured the ongoing imbalance of supply and demand will continue to put upward pressure on home prices this year. That’s good news for you if you’re ready to sell your house.

Selling sooner rather than later lets you capitalize on today’s rising home prices and your growing equity to fuel your next move.

Bottom Line

Selling your house now is a great way to take advantage of today’s home price appreciation. And when you buy your next home, projections for ongoing appreciation indicate it’ll be a worthwhile investment that will help you improve your financial future.