DID YOU KNOW THE US HOUSING PRICES WILL CONTINUE TO RISE IN 2022?

The pandemic has affected different sectors of the world’s economy. Generally, there has been a higher demand for products and inflation in various areas. House pricing and real estate are also experiencing an unexpected and rapid rise in value. This has raised concerns for many if the price would change or continue to rise in 2022?

This matter has always been a controversial one among professionals and buyers; one should be able to predict what fate housing prices in the US would be like in 2022. Although there is no optimum certainty in the prediction, it is safe to say there is a higher chance the prices will not decrease in 2022. Based on the efforts of several analysts, it has been predicted that there will be a great climb in price from the end of 2021 into the coming year.

Additionally, there are teams of professionals like the Jerry Pinkas Real Estate Experts who house owners have consulted to make the best choices about housing in the US. Speaking with a realtor is as important as determining the quality type of the house you want to live in or the space you would get for your office.

SHOULD WE EXPECT ANY DROP IN 2022?

Surveying through the latest forecasts of the housing market, one can see what future expectations look like. No recent prediction expects the prices of homes to drop in 2022. However, they have predicted a slower increment in the price growth as compared with the skyrocketed gain for previous years.

Here are some major predictions;

1. Freddie Mac

Freddie Mac is an organization that deals with mortgage loans. Although it is sponsored by the government, they buy loans from lenders and sell them to interested people. Based on their April 2021 prediction, they predicted that U.S. homes will gradually increase in 2022 and not at a fast rate like last year or this current one.

Based on statistics, 2020 recorded about a 12% increment in house values in the country. For 2021, they predicted an increment of about 7%. However, 2022 has its prediction to be about 4%. This implies that there could be a drop in the gain rate but not in the price.

2. CoreLogic

This is a property data and analytics organization. Based on their recent efforts, their predictions were similar to what Freddie Mac forecasted. Their figures were similar to Freddie Mac. They recorded 11.3% between 2020 and 2021.

However, they expect that the rise in housing prices should be about 3.5% in 20222. This is similar to the 4% Freddie Mac predicted.

3. Reuters

Their figures were not as exact as Freddie Mac's like CoreLogic was. Reuters had a poll for housing analysts who predicted what one should expect about housing prices in 2022. They predicted a 5.6% gain in the price and that this year recorded 10.6%.

In addition, they predicted a 4% increase in the price. Nevertheless, there may be a need to forecast for 2023 due to unforeseen circumstances.

The truth is that the price of housing in the US is not falling anytime soon. Although the gain rate is reducing as the years passing, there is still a need to work harder to foot your housing bills. For more information and suggestions, you should consult Jerry Pinkas Real Estate Experts; their services are great and reliable.

This article does not necessarily reflect the opinions of the editors or the management of EconoTimes