2022 Real Estate Predictions... 36% but which way?!

What is going to happen in 2022... will real estate prices continue to rise to historic levels or will the euphoria dissipate and cause a correction post c-19 ?

Instead of creating a housing bust, the pandemic helped spur one of the most competitive—and tight—housing markets in recorded U.S. history. Between August 2020 and August 2021, home prices soared a record 19.9%—dwarfing the previous biggest 12-month price jump (14.1%), which came in the period leading up to the 2008 meltdown.

But that level of price growth is expected to come down. This fall, the housing market finally started to slow a bit, as more inventory hit the market and fewer buyers engaged in bidding wars. While the industry benchmark S&P CoreLogic Case-Shiller Home Price Indices have yet to publish readings for September and October, industry insiders told Fortune they are already starting to see price growth decelerate.

“We’ve fallen into a more boring housing market compared to what we’ve seen since the start of the pandemic,” Ali Wolf, chief economist at Zonda, told Fortune. “Despite the pervasiveness of sticker shock, some consumers are choosing to charge forward in today’s less feverish market to secure a home and lock in a historically low (and rising) mortgage rate.”

The housing market is still moving upward, albeit at a slow pace. That slowing, or so-called normalization, is expected to continue into next year: Every 2022 forecast model Fortune has reviewed anticipates that price growth will slow down next year. The projected growth range among these forecasts is all over the place, however. Fannie Mae sees prices rising 7.9% in 2022. Zillow Research is more bullish, projecting 13.6% price growth in the next 12 months. And Ed Pinto, director of the American Enterprise Institute’s Housing Center, told Fortune’s Shawn Tully that prices could still rise in the high single-digits to low double-digits.

What will the real estate market really do... attend this MeetUp and find out!

Topic: 2022 Real Estate Market Zoom Meeting
Time: Jan 19, 2022 06:00 PM Pacific Time (US and Canada)

Join Zoom Meeting
https://us02web.zoom.us/j/85779357135?pwd=M0h6VjFQdXdhd3lGSjBLVTA4bllkZz09

Meeting ID: 857 7935 7135
Passcode: 267317