At least that’s what economists at are projecting. Realtor.com forecasts median existing home sales prices will rise 2.9% over the coming 12 months. That would mark a substantial slowdown from the S&P CoreLogic Case-Shiller index’s latest reading of year-over-year U.S. home price growth (up 19.5% between September 2020 and the same month this year).
If Realtor.com’s projection comes to fruition, it would also be the slowest 12-month rate of price growth since 2012. No, this wouldn’t be a housing correction or crash. However, slower price growth would provide buyers a bit of breathing room. Less bidding. More time to search for homes. And maybe even a chance for some buyers to finally save up for a down payment. Click the link below to view our 4Q real estate market report for the Suffolk County Residential Market.
View Full Report PDF Here: 4Q21 Suffolk County Real Estate Update