A panel of economists and housing experts is evenly split on whether sales will rise or fall in 2022 as concerns over worsening affordability collide with expectations for rising inventory.
When asked, 41% of participants in the latest Zillow Home Price Expectations survey (ZHPES) said sales will grow, 41% predict a slowdown, and 18% believe sales will remain roughly the same.
There were about 6.32 million homes sold from January through November of 2021, the most sales in that time period since 2006. Of those, roughly 5.61 million were existing homes. Zillow's own forecast calls for sales of existing homes to increase a bit in 2022, drawing on recent sales performance, household formation rates and the expectation that mortgage rates will remain relatively low, offering attractive financing for home buyers.
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