The Truth About The Current Housing Market
By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Many people ask me if home prices will fall and if they should wait to buy or sell. Here are some facts to make buyer and seller decisions easier. Home Price ExpectationsHome prices have grown for over 120 consecutive months (10 years) year over year. The price appreciation has averaged 15% for 2021 which is a stark increase to 6% in 2020. Why are prices growing? Demand drives pricing. There are still many more buyers in the market to purchase a home than homeowners who are willing to sell. Because of this imbalance, home price forecasters believe prices are expected to increase throughout 2022. Experts are forecasting price appreciation though the year although at a lesser gain than last year. Below is a chart of projected price increases by 7 forecasters with an average apprec...
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