Zillow January 2022-January 2023 Home Value & Sale Forecast
Zillow expects annual home value growth to continue to accelerate through the spring, peaking at 21.6% in May before gradually slowing.
Market Trends
Mortgage Rates Continue Rise, Up Half a Percent This Year
Mortgage rates continued to rise last week, and are up more than half a percent so far this year.
Mortgage Rates Increase as Fed Expected to Address Inflation
Rates spiked in the middle of last week after the Federal Reserve communicated a willingness to take aggressive measures to address inflation.
U.S. Housing Market has Doubled in Value since the Great Recession, Gaining $6.9 Trillion in 2021
The total value of private residential real estate in the U.S. grew by a record $6.9 trillion in 2021, to $43.4 trillion – more than double the level from a decade ago.
Mortgage Rates Down, Markets Wait on FOMC Meeting
Last week was light on economic data and markets awaited the Federal Reserve Federal Open Market Committee (FOMC) meeting results today.
Zillow’s Open Market Home Price Appreciation Forecasting Methodology
What drives open market house price appreciation? Where will it be in a month or in a year? How about seasonal effects? Why do otherwise similar homes in some markets appreciate at different rates than in other areas?
November Case-Shiller Results & Forecast: Gliding Back to Earth
The S&P CoreLogic Case-Shiller U.S. National Home Price Index® rose 18.8% year-over-year in November (non-seasonally adjusted), down from 19.0% in October.
No Shot in the Arm: Why COVID Vaccination Rates Have Little Impact on Local Housing Dynamics
With the widespread rollout of COVID-19 vaccines beginning in early 2021, local vaccination rates were found to have little impact on housing market performance or long-term, strategic housing decisions – but did lengthen transaction times in less-vaccinated areas.
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.
Mortgage Rates Increase to Highest Level Since March 2020
Mortgage rates continued to increase last week, reaching their highest levels since March of 2020.
