loading...

Will Home Prices Rise Another 12% in Coming Year?

by UrbanTurf Staff

Home prices around the country have been rising for some time. A new report concludes that will continue at a brisk pace for the coming year. 

Prices will rise 11.8% between April 2021 and April 2022, according to a panel of economists surveyed by Zillow. In DC, prices are also predicted to increase by that same amount. 

Expected home sales and price appreciation. Click to enlarge.

"Recent rapid home value growth has pushed our expectation for future growth higher over the past month," the report said.

While not as robust as previous forecasts, Zillow expects to see double-digit home sales growth in 2021 compared to 2020. 

"In March, Zillow expected a total of 6.41 million existing home sales in 2021, slightly more than the 6.23 million sales currently forecast for this year. Mounting affordability concerns contributed to the slightly lower outlook, outweighing recent improvements in pending sales and mortgage application activity."

This article originally published at http://dc.urbanturf.com/articles/blog/will-home-prices-rise-another-12-in-coming-year/18300

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!