Real Estate Agents Forecast Slower Prices and Sales Growth in 2022
The 2022 housing market will sustain some unfavorable conditions from the year prior, but slower price gains will give exhausted buyers time to breathe and regroup
Feb. 14, 2022
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Though housing conditions remain uncertain for the future of 2022, the latest John Burns Real Estate Agent Survey reveals overwhelming optimism for the new year as the market slowly comes down from peak highs in 2021, the John Burns team reports. Agents expect resale home prices to slow from an 18% gain in 2021 to 7% in 2022, and sales volume growth will also see deceleration at 6% nationally due to supply constraints. As the 2022 market looks ahead to more stability, housing supply will remain a top priority for builders looking to satisfy rising demand and limit price volatility throughout the year.
Our survey results support their forecasts:
74% of agents reported mostly increasing home prices nationally, up from a low of 63% in October, and approaching the high of 77% seen in July 2021.
53% of contracts received multiple offers, up from 47% last month, and back to levels seen in August 2021.
All-cash purchases rose slightly to 19% nationally.
Florida’s percentage of cash sales jumped from 30% to 38% MOM, fueled by in-migration and investors.
