Let’s take a look at some of the most talked-about housing market predictions for 2022 & 2023. In light of what real estate professionals are forecasting, here are some educated predictions about what the future of the United States housing market will look like. Despite historically low borrowing rates, the housing industry has had a boom last year, with the largest annual gain in single-family house values and rentals, historically low foreclosure rates, and the highest number of home sales in 15 years.
One can easily predict strong price appreciation, scarcity of inventory, and high demand. That does not appear to be decreasing, even in some of the country’s most expensive markets, the tier one markets. What is the current state of the housing market? And this appears to be a frequently asked question. Everybody is talking about housing, but how is the market doing? Is the housing market ascending or is it on the decline? Is there a risk that rates will continue to rise or that housing prices will continue to appreciate?
The overarching question is how the housing market is doing and will it crash?
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