View Buyer Guide
Inside this Issue…
- Should I Buy a Home This Fall?
- Expert Insights for Today’s Homebuyers
- More Options for Your Home Search
- Housing Market Forecast
- Americans Choose Real Estate as the Best Investment
- The Benefit of Buying a Home Now
- The One Thing You Need To Know About a Recession
- Why the Housing Market Won’t Crash
- What You Need To Know About Down Payment Assistance Programs
- Things To Avoid After Applying for a Mortgage
- Tips for Making Your Best Offer
- Top Reasons To Own Your Home
Start Viewing the Fall 2022 Buyers Guide HERE!
Here’s a sneak peek…
Housing Market Forecast
The housing market is at a turning point, and if you’re thinking of buying a home, that may leave you wondering: is it the right time to make a move? Let’s turn to the experts for what the future is projected to hold.
Experts Project Mortgage Rates Will Stabilize
This year, mortgage rates have climbed over 2% due to the Federal Reserve’s response
to inflation. While mortgage rates continue to fluctuate, experts project they’ll start to
stabilize in the months ahead, hovering in the low 5% range initially, and then possibly
dipping into the high 4% range later next year. That could bring some welcome relief if
you’re ready to buy a home (see chart):
Home Price Forecasts Call for Ongoing Appreciation
In 2021, home prices appreciated rapidly because there were far more people looking
to make a purchase than there were homes available for sale. CoreLogic helps explain
how unusual last year’s price gains were:
“Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.”
This year, home price appreciation is slowing (or decelerating) from the feverish pace
the market saw during the pandemic. According to the latest forecasts, experts say
nationwide, prices will still appreciate by roughly 11.3% in 2022 (see graph):
