Housing Market Predictions for the remainder of 2022

Everyone wants to know what’s gonna happen to the real estate market?

Forbes Advisor did some research and presented their opinions. 

We’ll share some below. 

Will housing prices continue to rise?

 “Inflation, high mortgage rates and record-high home prices are making it harder and harder to afford a home, and that’s not likely to change soon. Economists at Fannie Mae expect prices to be, on average, 16% higher in the coming quarter than they were a year ago.

MBA economists also expect home price gains for the foreseeable future. They forecast a 9.8% yearly increase for prices in 2022 compared to 2021 and a 2.8% gain in 2023.”

Should I buy now or wait?

“Buy based on your budget and needs. If you find a home you love in an area you love and it also fits your budget, then chances are it might be right for you. But if you make too many sacrifices just to get a house, you may end up with buyer’s remorse and an expensive albatross you have to offload.”

Forbes Advisors has some advise for buyers and sellers in this market, click here to read their article in entirety.