Everyone is curious – what will home prices do during quarter two?
Economist can’t predict exactly what will happen to home prices in quarter two.
Below are a few of their predictions:
Holden Lewis, mortgage expert from NerdWallet says, “Home prices have been rising fast, and we might see a slowdown beginning in April as home buyers cope with skyrocketing mortgage rates.”
Bankrate analyst, Jeff Ostrowski, says “The shortage of homes means we can expect prices to remain high during the spring home buying season.”
Lawrence Yun, chief economist for the National Association of Realtors, predicts, “ There’s an acute shortage of inventory and many properties have multiple offers on them, despite higher mortgage rates. Some believe the interest rates will rise even more if they wait and thereby further push up demand. Home price growth on a 12-month basis should be on solid double digit appreciation through the spring months.”