Housing Market Forecast: Reuters Home Price Prediction for 2022, 2023 & 2024

Описание: StellarQuest Real Estate - Lic #02077900
www.StellarQuest.com
Video By: Tim Hamilton
Broker Associate
Lic# 01959966
(714) 486-4086
[email protected]

Home prices are expected to rise double digits according to a recent poll from Reuters. They polled 33 property analysts about home price expectations, and the median response came in at an increase of 10.3% for 2022. In addition, the median forecast for 2023 was 5%, and 2024 was 4.1%. The analysts were polled throughout the month of February, and many responses were upwardly revised from their December answers. This means those analysts are becoming more positive on the housing market.

Brad Hunter, who is the head of Hunter Housing Economics, believes that the recent rate of home price appreciation is clearly unsustainable. He goes on to say “the expectation is for the rate of increase to slow to a pace closer to the pace of income growth of households made up of people who are in their late 20s and early 30s. The millennials are driving the surge in demand for single-family homes. There is, however, very little risk that home prices will decline in this cycle.” End quote. Of 27 analysts, all but one predicted it would remain a seller’s market this year and will only change in 2024.

When asked what analysts think of home prices on a scale of 1-10, with 1 being cheap and 10 being extremely expensive, the respondents answered with a median response of an 8.

Most analysts believe the housing market will most likely remain in a seller's market over the next few years.

Below are a few interesting charts related to housing market values.

Stocks vs. Home Values:
https://www.longtermtrends.net/stocks...

Home Values vs. Median Income:
https://www.longtermtrends.net/home-p...

Home Values vs. Inflation
https://www.longtermtrends.net/home-p...

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Chapters:
0:00 Double Digit Price Gains
0:52 Prices up 10.3% in 2022
1:58 Low Risk of Price Decline
2:57 Call if You Have Questions