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4 economists and real estate pros on what to expect from home prices
What will home prices do this season, and into 2023? Getty Images Home prices have been on a rapid ascent: Depending on which gauge you look at, US home prices have been rising at a pace of 15% to 20% a year. But pros say that rapid ascent is likely to slow through the next year or so, as mortgage rates continue to climb (see the lowest mortgage rates you can qualify for now here). Here’s what experts told us they expect to happen to home prices both in the short term and longer term. What will home prices do in the short term? Don’t expect home price growth to…
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‘Home price appreciation will normalize.’ What 5 economists and real estate pros predict will happen to home prices in 2022
How much will home prices go up in 2022? Getty Images/iStockphoto In 2021, home prices skyrocketed nearly 19%, according to the S&P CoreLogic Case-Shiller home price index. And pros say we’re in for another year of price growth — but as for how much, pros diverge. Some predict double digit growth. Indeed, a report in January from Zillow noted that home values were expected to grow 16.4% between December 2021 and December 2022; Goldman Sachs, in October, forecast that home prices would rise 16% through 2022. Fannie Mae says home prices will climb 11.2% throughout this year, followed by a more modest increase in 2023. Others have more modest predictions:…
