- Zillow expects annual dwelling worth development to proceed to speed up by way of the spring, peaking at 22% in Might earlier than regularly slowing to 17.8% by February 2023.
- Greater than 377,000 current houses are anticipated to have offered in February, a seasonally adjusted annual charge of 6.36 million.
Annual dwelling worth development is more likely to proceed accelerating by way of the spring, peaking at 22% in Might, earlier than regularly slowing by way of February 2023. Greater than 6.4 million whole current houses are anticipated to promote in 2022.
Month-to-month dwelling worth development can be anticipated to proceed accelerating in coming months, rising to 1.8% in March and a pair of% in each April and Might earlier than slowing considerably. By the top of February 2023, the standard U.S. dwelling is anticipated to be price nearly $400,000. The sturdy long-term outlook is pushed by our expectations for tight market circumstances to persist, with demand for housing exceeding the provision of accessible houses.
The seasonally adjusted annual charge of current dwelling gross sales in February is anticipated to whole 6.36 million, down from 6.5 million in January 2022 however up from 6.17 million in February 2021 (February 2022 current dwelling gross sales knowledge are scheduled to be launched by the Nationwide Affiliation of Realtors on March 18, 2022). Current gross sales quantity (SAAR) is anticipated to stay the identical in March as in February, earlier than climbing barely to round 6.4 million, the place it’s forecast to stay by way of the rest of the yr. General, Zillow expects 6.416 million current houses to promote in 2022, up 4.8% from an already sturdy 2021.
Nonetheless, draw back dangers to our forecast stay. Continued elevated inflation heightens the danger of additional financial coverage tightening, which might end in larger mortgage rates of interest and weigh on housing demand.