• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

myHBliving

Huntington Beach Lifestyle

  • Real Estate
    • Instant Home Value
    • Start a Home Search
    • Buyer’s Guide
    • Seller’s Guide
    • Communities
      • Downtown HB
      • Northeast HB
      • Northwest HB
      • South HB
      • West HB
  • Information Hub
  • Huntington Beach Living
    • Lifestyle
    • Outdoors
    • Restaurants
    • Events
  • Fundraisers
  • Contact

What Experts Say Will Happen with Home Prices Next Year

September 22, 2022 by Megan Gullotta

What Experts Say Will Happen with Home Prices Next Year | Simplifying The Market

Experts are starting to make their 2023 home price forecasts. As they do, most agree homes will continue to gain value, just at a slower pace. Over the past couple of years, home prices have risen at an unsustainable rate, leaving many to wonder how long it would last. If you’re asking yourself: what’s ahead for the price of my home, know that experts are now answering this question, and its welcome news for homeowners who may have been led by the media to believe their home would lose value.

Historically, home prices have appreciated at a rate near 4%. For 2023, the average of six major forecasters noted below is 2.5%. While one, Zelman & Associates, is calling for depreciation, the other five are calling for appreciation. The graph below outlines each expert forecast to show where they project home prices are going in the coming year.

What Experts Say Will Happen with Home Prices Next Year | Simplifying The Market

To understand why experts are calling for appreciation next year, look to the economics of supply and demand. Dave Ramsey, Financial Expert, says this:

“The root issue of what drives house prices almost always is supply and demand . . .”   

Two things are driving home prices upward. First, the undersupply of homes on the market is an issue we continue to face in this country. We still don’t have enough homes on the market for the number of people that want to buy them. To further that point, we’re still in a sellers’ market nationally, and in that scenario, home prices tend to appreciate.

Second, millennials are moving through their peak homebuying years. Since they’re the largest demographic behind the baby boomers, demand isn’t going away any time soon.

Bottom Line

Experts are calling for home prices to appreciate next year, although at a slower pace than the previous three years. The reason for this is simple. The dynamics of supply and demand are playing out in real estate and will continue for many years to come.

More Posts

You May Not Need as Much as You Think for Your Down Payment [INFOGRAPHIC]

Experts Forecast a Turnaround in the Housing Market in 2023

Should You Rent Your House or Sell It?

Lower Mortgage Rates Are Bringing Buyers Back to the Market

Primary Sidebar

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

STAY UP TO DATE!

Never miss a thing in Huntington Beach! Let me keep you in the loop by getting fun local events & local real estate news delivered straight to your inbox!

Your information is never shared.

Categories

  • Fundraisers
  • Information Hub
  • Lifestyle
  • Local Events
  • Outdoors
  • Restaurants

Footer

Megan Gullotta
Realtor

Connect with Me on:

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

Copyright © 2023 · Agent Focused Pro on Genesis Framework · WordPress · Log in

Seven Gables Real Estate. Equal Housing Opportunity. Agent Lic. #01964682 | Office Lic. #00745605.
© Copyright 2020 myHBliving | Megan Gullotta. All Rights Reserved. Privacy Policy