Annual home price appreciation has accelerated to record highs in each of the past 12 months, since surpassing the mid-2000s housing bubble high water mark that run of records is likely to end soon, as the housing market passes through an inflection point. That doesn’t mean a housing crash is coming or even that prices will fall, but a rebalancing would be welcome news for buyers, especially those buying their first home.
Experts Predict at Least Two More Years Before Housing Inventory Climbs to Pre-Pandemic Levels
The housing market is expected to return to pre-pandemic, 2019 norms — at least in terms of inventory and the share of purchases made by first-time home buyers — by 2024, according to a panel of housing market experts polled in the latest Zillow® Home Price Expectations Survey.
Buyers Pay up to 3.7% more for Homes that Work Hard & Play Hard
Home listings mentioning remote work-friendly and/or leisure-focused features can sell for more than expected.
A 1-2 Punch: Why Monthly Mortgage Payments are Rising at their Fastest Pace in Decades
The monthly mortgage payment on the typical U.S. home rose 31% in the last year – the largest one-year climb in at least 22 years.
Dearth of Inventory, Price Hikes Pose Challenges for Shoppers (January 2022 Market Report)
Home value appreciation accelerated again in January, to a record 19.9% annual gain, while inventory plunged below 900,000 listings -- a record low.
146 New U.S. Cities Gained Million-Dollar Status in 2021, the Most Ever in a Single Year
There are now 481 cities nationwide in which the typical home value is at least $1 million, and almost half (44%) are in California.
Inventory Down 40% from Pre-Covid Level as Price Growth Intensifies (December 2021 Market Report)
There were fewer options for would-be home buyers on the market at the end of 2021 than any time in recent memory.
Experts Split on Sales Impact from Potential Affordability Woes vs. Inventory Gains
Housing experts are evenly divided on whether sales will rise or fall in 2022, weighing inventory growth against worsening affordability.
U.S. Movers Continued to Seek Affordability in 2021, but in Different Areas
Some of 2020’s most popular mover destinations have gotten so expensive, so quickly that they are losing some of their appeal as affordable options.
