If you’re wondering if a slowdown in the housing market or a possible recession will drive home prices down, here’s what you need to know. Not only do experts predict that house prices will continue to rise nationwide this year, but most experts have revised their house price growth projections upwards from their original projections for 2022 see below. (Shown in green on the graph).
As the chart shows, most sources have revised upwards, calling for further increases in 2022 from their original January projections. But why are experts so confident the housing market will continue to rise? This is due to supply and demand in most markets.
Bank rate said: Demand is still outstripping supply due to a combination of weak new construction and strong household formation for many millennials, although rising mortgage rates have dampened demand somewhat. They actually raised his first forecast of the year by this should help
answer the question. Will house prices go down? According to the latest forecasts, experts are confident that prices will continue to rise this year, although not as much as in 2021, when most markets will continue to rise. If you have questions about what’s happening to property prices in the area, talk to a real estate professional.