Housing Market Forecast from CoreLogic: Is the Housing Market in a Bubble? Home Price Forecast 2022

StellarQuest Real Estate - Lic #02077900
www.StellarQuest.com
Video By: Tim Hamilton
Broker Associate
Lic# 01959966
(714) 486-4086
timsellsca@gmail.com

In this video we are discussing the CoreLogic Home Price Insights Report that was published on March 1st, 2022. They are predicting their Home Price Index will rise 3.8% from January 2022 - January 2023. In 2022, they are forecasting home price appreciation will average 9.6%. This is down from 15% for 2021, but still higher than the 6% we had in 2020.

I thought this quote from the chief economist, Dr. Frank Nothraft, was very insightful: “Much of what we’ve seen in the run-up of home prices over the last year has been the result of a perfect storm of supply and demand pressures. As we move further into 2022, economic factors – such as new home building and a rise in mortgage rates – are in motion to help relieve some of this pressure and steadily temper the rapid home price acceleration seen in 2021.”

Here in Orange County, we don't have a lot of new home building. That is because there isn't a whole lot of vacant land left to build on. This means Orange County will not experience nearly as much pressure from new homes being built. This is a positive factor if you want higher home prices in Orange County.

If you would like to learn more about any of these topics please feel free to let me know and I will send you the articles you are interested in.

Below are a few interesting charts related to housing market values.

Stocks vs. Home Values:
https://www.longtermtrends.net/stocks...

Home Values vs. Median Income:
https://www.longtermtrends.net/home-p...

Home Values vs. Inflation
https://www.longtermtrends.net/home-p...

You can also visit our website at https://www.stellarquest.com

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Chapters:
0:00 Home Prices to Rise 3.8%
0:48 Appreciation to Average 9.6% in 2022.
1:12 Perfect Storm of Supply & Demand
2:11 Are we in a Housing Market Bubble?
2:47 CoreLogic is Getting More Positive!
3:27 Call if You Need Help Buying or Selling a Home