Zillow Home Value and Sales Forecast: July 2022
Zillow’s housing market outlook has been revised down from June. Zillow forecasts 7.8% home value growth over the next 12 months (July 2022-June 2023).
Market Reports
Monthly payments on a typical mortgage are more than 75% higher than they were in June 2019. Affordability challenges are tamping down competition in formerly red-hot markets, causing steep drops in pending sales in places like San Jose, Seattle, and Salt Lake.
Housing Affordability Hits 15-Year Low as Prices, Mortgage Rates Rise (May 2022 Market Report)
Mortgage payments are higher than rent in 45 of the 50 largest U.S. metros, up from 22 in 2019.
In Q1, homeowners sold 12,652 homes using an iBuying service. iBuyer market share was 1.3%.
Housing Market Hot but Not a Bubble, Economists Say
Although home prices continue to break growth records, a panel of housing experts and economists surveyed by Zillow® does not believe the market is in a bubble. The latest Zillow Home Price Expectations survey polled more than 100 experts from academia, government and the private sector to gather their opinions on the state of the housing market and future growth, inflation forecasts and recession risks.
Zillow Home Value and Sales Forecast: May 2022
Zillow’s housing market outlook has been revised down from April. Zillow forecasts 11.6% home value growth over the next 12 months (May 2022-April 2023). 5.73 million existing home sales are expected in 2022, according to Zillow’s latest forecast, a 6.4% decrease from 2021.
The Housing Market is as Competitive as Ever Despite Soaring Costs (April 2022 Market Report)
Despite rising home values and mortgage rates, the housing market is as competitive as ever. Buyer demand has been strong enough to keep the market moving at a record pace, even after a massive spike in mortgage rates.
Inventory rose substantially in March, a welcome return to seasonal norms for the housing market.
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.
Leap Years: How the Housing Market Soared During the Pandemic (February 2022 Market Report)
Inventory is down by almost half from two years ago, helping push housing costs up throughout the transformative, two-year pandemic era.
