• HOME
    HOME
  • PROPERTY SEARCH
    PROPERTY SEARCH
    • DREAM HOME FINDER
      DREAM HOME FINDER
    • BERKELEY HEIGHTS HOMES
      BERKELEY HEIGHTS HOMES
    • DUNELLEN HOMES
      DUNELLEN HOMES
    • FANWOOD HOMES
      FANWOOD HOMES
    • METUCHEN HOMES
      METUCHEN HOMES
    • NORTH PLAINFIELD HOMES
      NORTH PLAINFIELD HOMES
    • NEW PROVIDENCE HOMES
      NEW PROVIDENCE HOMES
    • PISCATAWAY HOMES
      PISCATAWAY HOMES
    • SCOTCH PLAINS HOMES
      SCOTCH PLAINS HOMES
    • SOUTH PLAINFIELD HOMES
      SOUTH PLAINFIELD HOMES
    • WATCHUNG HOMES
      WATCHUNG HOMES
    • WARREN HOMES
      WARREN HOMES
    • SOMERSET HOMES
      SOMERSET HOMES
  • HOME SELLERS
    HOME SELLERS
    • HOME VALUATION REQUEST
      HOME VALUATION REQUEST
    • STAGING YOUR HOME FOR SALE
      STAGING YOUR HOME FOR SALE
    • COMMUNITY INFO
      COMMUNITY INFO
    • LOCAL SERVICE PROVIDERS
      LOCAL SERVICE PROVIDERS
    • NEWS FOR HOME SELLERS
      NEWS FOR HOME SELLERS
  • HOME BUYERS
    HOME BUYERS
    • LUXURY HOMES IN CENTRAL NEW JERSEY
      LUXURY HOMES IN CENTRAL NEW JERSEY
    • CONDOS & TOWNHOUSES
      CONDOS & TOWNHOUSES
    • RETIREMENT HOUSING IN NEW JERSEY
      RETIREMENT HOUSING IN NEW JERSEY
    • MORTGAGE CALCULATOR
      MORTGAGE CALCULATOR
    • LOCAL SERVICE PROVIDERS
      LOCAL SERVICE PROVIDERS
    • NEWS FOR HOME BUYERS
      NEWS FOR HOME BUYERS
  • ABOUT ROBIN
    ABOUT ROBIN
    • ABOUT ROBIN
      ABOUT ROBIN
    • CONTACT ME
      CONTACT ME
    • TESTIMONIALS
      TESTIMONIALS
  • BLOG
    BLOG
  • HOME
    HOME
  • PROPERTY SEARCH
    PROPERTY SEARCH
    • DREAM HOME FINDER
      DREAM HOME FINDER
    • BERKELEY HEIGHTS HOMES
      BERKELEY HEIGHTS HOMES
    • DUNELLEN HOMES
      DUNELLEN HOMES
    • FANWOOD HOMES
      FANWOOD HOMES
    • METUCHEN HOMES
      METUCHEN HOMES
    • NORTH PLAINFIELD HOMES
      NORTH PLAINFIELD HOMES
    • NEW PROVIDENCE HOMES
      NEW PROVIDENCE HOMES
    • PISCATAWAY HOMES
      PISCATAWAY HOMES
    • SCOTCH PLAINS HOMES
      SCOTCH PLAINS HOMES
    • SOUTH PLAINFIELD HOMES
      SOUTH PLAINFIELD HOMES
    • WATCHUNG HOMES
      WATCHUNG HOMES
    • WARREN HOMES
      WARREN HOMES
    • SOMERSET HOMES
      SOMERSET HOMES
  • HOME SELLERS
    HOME SELLERS
    • HOME VALUATION REQUEST
      HOME VALUATION REQUEST
    • STAGING YOUR HOME FOR SALE
      STAGING YOUR HOME FOR SALE
    • COMMUNITY INFO
      COMMUNITY INFO
    • LOCAL SERVICE PROVIDERS
      LOCAL SERVICE PROVIDERS
    • NEWS FOR HOME SELLERS
      NEWS FOR HOME SELLERS
  • HOME BUYERS
    HOME BUYERS
    • LUXURY HOMES IN CENTRAL NEW JERSEY
      LUXURY HOMES IN CENTRAL NEW JERSEY
    • CONDOS & TOWNHOUSES
      CONDOS & TOWNHOUSES
    • RETIREMENT HOUSING IN NEW JERSEY
      RETIREMENT HOUSING IN NEW JERSEY
    • MORTGAGE CALCULATOR
      MORTGAGE CALCULATOR
    • LOCAL SERVICE PROVIDERS
      LOCAL SERVICE PROVIDERS
    • NEWS FOR HOME BUYERS
      NEWS FOR HOME BUYERS
  • ABOUT ROBIN
    ABOUT ROBIN
    • ABOUT ROBIN
      ABOUT ROBIN
    • CONTACT ME
      CONTACT ME
    • TESTIMONIALS
      TESTIMONIALS
  • BLOG
    BLOG
To Blog

What’s Ahead for Home Prices?

October 20, 2022
-
For Buyers, For Sellers, Housing Market Updates, Pricing
-
Posted by Robin Taylor Roth

What’s Ahead for Home Prices? | Simplifying The Market

As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines in the media, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely to happen moving forward?

While opinions differ, the most likely outcome is we’ll fall somewhere in the middle of slight appreciation and slight depreciation. Here’s a look at the latest expert projections so you have the best information possible today.

What the Experts Are Saying About Home Prices Next Year

The graph below shows the most up-to-date forecasts from five experts in the housing industry. These are the experts that have most recently updated their projections based on current market trends:

What’s Ahead for Home Prices? | Simplifying The Market

As the graph shows, the three blue bars represent experts calling for ongoing home price appreciation, just at a more moderate rate than recent years. The red bars on the graph are experts calling for home price depreciation.

While there isn’t a clear consensus, if you take the average (shown in green) of all five of these forecasts, the most likely outcome is, nationally, home price appreciation will be fairly flat next year.

What Does This Mean?

Basically, experts are divided on what’s ahead for 2023. Home prices will likely depreciate slightly in some markets and will continue to gain ground in others. It all depends on the conditions in your local market, like how overheated that market was in recent years, current inventory levels, buyer demand, and more.

The good news is home prices are expected to return to more normal levels of appreciation rather quickly. The latest forecast from Wells Fargo shows that, while they feel prices will fall in 2023, they think prices will recover and net positive in 2024. That forecast calls for 3.1% appreciation in 2024, which is a number much more in line with the long-term average of 4% annual appreciation.

And the Home Price Expectation Survey (HPES) from Pulsenomics, a poll of over one hundred industry experts, also calls for ongoing appreciation of roughly 2.6 to 4% from 2024-2026. This goes to show, even if prices decline slightly next year, it’s not expected to be a lasting trend.

As Jason Lewris, Co-Founder and Chief Data Officer for Parcl, says:

“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”

Don’t let fear or uncertainty change your plans. If you’re unsure about where prices are headed or how to make sense of what’s going on in today’s housing market, reach out to a local real estate professional for the guidance you need each step of the way.

Bottom Line

The housing market is shifting, and it’s a confusing place right now. Let’s connect so you have a trusted real estate professional to help you make confident and informed decisions about what’s happening in our market.

PREVIOUS POST
Should You Still Buy a Home with the Latest News About Inflation?
NEXT POST
3 Questions You May Be Asking About Selling Your House Today [INFOGRAPHIC]

Robin Taylor Roth

Find Your Dream Home
Price
Beds
Baths
More
Save Search
Get In Touch!

What is My Home Worth?

Related News

Other posts that you should not miss

What Credit Score Do You Need for a Mortgage?

March 22, 2021
-
Posted by Robin Taylor Roth

According to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in …

Read More →
Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers
2 MIN READ

Planning to Move? You Can Still Secure a Low Mortgage Rate on Your Next Home

April 22, 2021
-
Posted by Robin Taylor Roth

This year, mortgage rates have started to slowly climb above recent record-breaking lows. Many homeowners planning to move may feel like …

Read More →
For Buyers, For Sellers, Interest Rates, Move-Up Buyers
2 MIN READ

Advice for First-Generation Homebuyers

December 14, 2021
-
Posted by Robin Taylor Roth

The sense of pride you’ll feel when you purchase a home can’t be overstated. For first-generation homebuyers, that feeling of accomplishment …

Read More →
Demographics, First Time Home Buyers, For Buyers, Gen Z, Millennials
3 MIN READ
Contact Me

Robin Taylor Roth
Berkshire Hathaway HomeServices New Jersey Properties
564 Middlesex Ave, Metuchen, NJ 08840
NJ #0897458

Office : 732.494.7677
Cell : 908.612.4962
Email : robintaylorroth@BHHSNJ.com

Your Contact Info
[contact-form-7 id="8923" title="footer Contact form"]
 

Agent Login

© 2022 Robin Taylor Roth ©2017 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

What’s Ahead for Home Prices? | Central New Jersey Real Estate

Attraction in Dunellen Boro, NJ

778 Frenchtown Rd
Powered by Yelp
Delaware River Tubing
Delaware River Tubing - Milford Yelp Rating 226 reviews
Rafting/Kayaking, Boating, Tubing
778 Frenchtown Rd
Powered by Yelp
The Famous River Hot Dog Man
The Famous River Hot Dog Man - Milford Yelp Rating 17 reviews
Rafting/Kayaking, Tubing
716 Union Ave
Powered by Yelp
Route 28 Farmers Market
Route 28 Farmers Market - Middlesex Yelp Rating 28 reviews
Farmers Market
380 US 22
Powered by Yelp
Bowlero Green Brook
Bowlero Green Brook - Green Brook Township Yelp Rating 182 reviews
Venues & Event Spaces, Bowling, Eatertainment
42 Mountain Blvd
Powered by Yelp
SCLSNJ's Warren Township Branch
SCLSNJ's Warren Township Branch - Warren Yelp Rating 8 reviews
Libraries
41 Mountain Blvd Ste E1
Powered by Yelp
4 Brothers Breakfast
4 Brothers Breakfast - Warren Yelp Rating 635 reviews
Southern, Breakfast & Brunch, Jazz & Blues
132 Bergen Blvd
Powered by Yelp
Carpet Kingdom
Carpet Kingdom - Fairview Yelp Rating 8 reviews
Flooring, Carpeting, Rugs
16 Lenox Ct
Powered by Yelp
Tanglewood Terrace Apartment Homes
Tanglewood Terrace Apartment Homes - Piscataway Yelp Rating 6 reviews
Apartments
420 W 1st Ave
Powered by Yelp
Granitetop
Granitetop  - Roselle Yelp Rating 7 reviews
General Contractors, Kitchen & Bath
360 Industrial Loop
Powered by Yelp
WeGotLites
WeGotLites - Staten Island Yelp Rating 45 reviews
Home Decor, Lighting Fixtures & Equipment, Lighting Stores
305-B New Dorp Ln
Powered by Yelp
Gables New York
Gables New York - Staten Island Yelp Rating 9 reviews
Home Decor, Shades & Blinds, Shutters
378 Route 6 & 209 Matamoras Base
Powered by Yelp
Kittatinny Canoes
Kittatinny Canoes - Milford Yelp Rating 122 reviews
Rafting/Kayaking, Tubing
1055 US Hwy 1
Powered by Yelp
Worldwide Wholesale Floor Coverings
Worldwide Wholesale Floor Coverings - Edison Yelp Rating 86 reviews
Carpeting, Hardware Stores
845 3rd Ave Fl 6
Powered by Yelp
Roadway Moving
Roadway Moving - New York Yelp Rating 458 reviews
Movers, Packing Services, Packing Supplies
225 US Hwy 46 Ste 7
Powered by Yelp
Ambassador Limo & Party Bus
Ambassador Limo & Party Bus - Totowa Yelp Rating 7 reviews
Limos, Party Bus Rentals
Powered by Yelp
The Happy Wanderer Travel Agency
The Happy Wanderer Travel Agency - Plainfield Yelp Rating 1 reviews
Travel Agents, Tours