[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f152jutxypaxi4":3,"$ffeh0925h8cuz":47,"$fbwk2pqjjqsc7":51},{"item":4,"previous":35,"next":41},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":33,"updatedAt":34},3978,"the-future-of-home-price-appreciation-and-what-it-means-for-you","The Future of Home Price Appreciation and What It Means for You","Many consumers are wondering what will happen with home values over the next few years\u003Cem>.\u003C\u002Fem> Some are concerned that the recent run-up in home prices will lead to a situation similar to the \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F02\u002F17\u002F4-simple-graphs-showing-why-this-is-not-a-housing-bubble\u002F\">housing crash\u003C\u002Fa> 15 years ago.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F04\u002F05111705\u002F20220407-KCM-Share.jpg","Many consumers are wondering what will happen with home values over the next few years\u003Cem>.\u003C\u002Fem> Some are concerned that the recent run-up in home prices will lead to a situation similar to the \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F02\u002F17\u002F4-simple-graphs-showing-why-this-is-not-a-housing-bubble\u002F\">housing crash\u003C\u002Fa> 15 years ago.\u003C!--more-->\r\n\r\nHowever, experts say the market is totally different today. For example, Odeta Kushi, Deputy Chief Economist at \u003Cem>First American,\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Ftwitter.com\u002Fodetakushi\u002Fstatus\u002F1509948951918788608\">tweeted\u003C\u002Fa> just last week on this issue:\r\n\u003Cblockquote>\u003Cem>“. . . We do need price appreciation to slow today (it’s not sustainable over the long run) but high price growth today is supported by fundamentals- short supply, lower rates & demographic demand. And we are in a much different & safer space: better credit quality, low DTI [Debt-To-Income] & tons of equity. Hence, a crash in prices is very unlikely.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nPrice appreciation will slow from the double-digit levels the market has seen over the last two years. However, experts believe home values will \u003Cstrong>not \u003C\u002Fstrong>depreciate (where a home would lose value).\r\n\r\nTo this point\u003Cem>, Pulsenomics\u003C\u002Fem> just released the latest \u003Ca href=\"https:\u002F\u002Fpulsenomics.com\u002Fsurveys\u002F#home-price-expectations\">\u003Cem>Home Price Expectation Survey\u003C\u002Fem>\u003C\u002Fa> – a survey of a national panel of over 100 economists, real estate experts, and investment and market strategists.\u003Cstrong> It\u003C\u002Fstrong> \u003Cstrong>forecasts home prices will continue appreciating over the next five years. \u003C\u002Fstrong>Below are the expected year-over-year rates of home price appreciation based on the average of all 100+ projections:\r\n\u003Cul>\r\n \t\u003Cli>\u003Cstrong>2022\u003C\u002Fstrong>: 9%\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>2023\u003C\u002Fstrong>: 4.74%\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>2024\u003C\u002Fstrong>: 3.67%\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>2025\u003C\u002Fstrong>: 3.41%\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>2026\u003C\u002Fstrong>: 3.57%\u003C\u002Fli>\r\n\u003C\u002Ful>\r\nThose responding to the survey believe home price appreciation will still be relatively high this year (though half of what it was last year), and then return to more normal levels over the next four years.\r\n\u003Ch4>\u003Cstrong>What Does This Mean for You as a Buyer?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nWith a limited supply of homes available for sale and both prices and mortgage rates increasing, it can be a challenging market to navigate as a buyer. But buying a home sooner rather than later does have its benefits. If you wait to buy, you’ll pay more in the future. However, if you buy now, you’ll actually be in the position to make future price increases work for you. Once you buy, those rising home prices will help you build your home’s value, and by extension, your own household wealth through home equity.\r\n\r\nAs an example, let’s assume you purchased a $360,000 home in January of this year (the \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fresearch-and-statistics\">median price\u003C\u002Fa> according to the \u003Cem>National Association of Realtors \u003C\u002Fem>rounded up to the nearest $10K). If you factor in the forecast for appreciation from the \u003Cem>Home Price Expectation Survey\u003C\u002Fem>, you could accumulate over $96,000 in household wealth over the next five years (\u003Cem>see graph below\u003C\u002Fem>):\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F04\u002F05111706\u002F20220407-MEM-Eng-1.png\">\u003Cimg class=\"aligncenter wp-image-46281\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F04\u002F05111706\u002F20220407-MEM-Eng-1.png\" alt=\"The Future of Home Price Appreciation and What It Means for You | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you’re trying to decide whether to buy now or wait, the key is knowing what’s expected to happen with home prices. Experts say prices will continue to climb in the years ahead, just at a slower pace. So, if you’re ready to buy, doing so now may be your best bet for your wallet. It’ll also give you the chance to use the future home price appreciation to build your own net worth through rising equity. If you want to get started, let’s connect today.","\r\nIf you’re trying to decide whether to buy now or wait, the key is knowing what’s expected to happen with home prices. Experts say prices will continue to climb in the years ahead, just at a slower pace. So, if you’re ready to buy, doing so now may be your best bet for your wallet. It’ll also give you the chance to use the future home price appreciation to build your own net worth through rising equity. If you want to get started, let’s connect today.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F04\u002F05111706\u002F20220407-MEM-Eng-1.png",false,[17,21,25,29],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},9,"Home Prices","home-prices",{"id":26,"name":27,"slug":28},11,"First-Time Buyers","first-time-buyers",{"id":30,"name":31,"slug":32},38,"Move-Up","move-up","2022-04-07T10:00:23Z","2022-11-16T17:25:54Z",{"id":36,"slug":37,"title":38,"featuredImage":39,"publishedAt":40,"contentType":10,"isVideo":15},3977,"remote-work-trends-mean-flexibility-for-first-time-homebuyers","Remote Work Trends Mean Flexibility for First-Time Homebuyers","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F04\u002F05102246\u002F20220406-KCM-Share.jpg","2022-04-06T10:00:51Z",{"id":42,"slug":43,"title":44,"featuredImage":45,"publishedAt":46,"contentType":10,"isVideo":15},3979,"do-you-know-how-much-equity-you-have-in-your-home-infographic","Do You Know How Much Equity You Have in Your Home? 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