If the home price increases of 2021 were too much for you, you might want to brace yourself for next year.
A new report from Zillow predicts that U.S. home prices could rise 13.6% between October 2021 and October 2022.
"We expect home values to grow 13.6% over the twelve months ending October 2022," the Zillow report stated. "The strong long-term outlook is driven by our expectations for tight market conditions to persist, with demand for housing exceeding the supply of available homes."
It will be interesting to see if this prediction holds true in the DC area, given the rapid trajectory of prices in recent years.
DC home prices are up 4.5% compared to October 2020, 22% compared to October 2019 and nearly 30% since October 2017. For the DC region, prices are up 7% since October 2020, 18% since October 2019 and 26% compared to October 2018.
This article originally published at https://dc.urbanturf.com/articles/blog/another-13-a-home-price-prediction-for-2022/18972.
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