One of the most common questions I hear is something like this: When will home prices decrease? Should I wait for prices to drop before buying a home? Or, for Sellers, if I don’t sell now, will I miss my chance?
To be clear, I don’t own a crystal ball and no one has all of the answers, but based upon a number of factors, real estate experts have made some predictions about home prices through 2025.
The supply/demand of new and existing homes remains a driver for home prices and forecasters continue to predict increasing home prices. The frantic appreciation experienced during the last year is unusual and that pace of appreciation is expected to moderate.
While home prices are predicted to rise through at least 2025, an increase in mortgage interest rates is expected. So, if you are a buyer on the sidelines, it might be a great time to purchase a home in beautiful Sonoma County. As area experts, we would love to go to work for you to help you find your dream home.
Thinking of selling? Remember that the number one priority in timing is to make sure that it’s right for YOU. If you are considering a home sale in 2022, it’s a perfect time to strategize!