Experts have changed their predictions on home price appreciation.

Projections for home prices are increasing significantly, but why? Most experts have doubled their appreciation expectations since January. What caused this change, and what does it mean for buyers and sellers?

Field experts like Fannie Mae, Freddie Mac, and more have all changed their predictions. One problem is that demand has not yet evened out with supply. The second issue is that building prices have gone up, so builders are not finishing homes as quickly as the economy needs. Some buyers are walking away from contracts because costs have skyrocketed so much. 

Expect home prices to continue to rise. If you have any questions about these numbers or what they mean for your plans, don’t hesitate to reach out to me and my team. We’d be happy to help!