Another 13%? A Home Price Prediction for 2022
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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."
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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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