Housing Market Forecast for the Rest of 2022 [INFOGRAPHIC]

Some Highlights

• The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022.

• The U.S. adds whopping 528,000 jobs in July as the labor market booms.  Employers continue to raise wages at a strong clip and generally maintain longer hours for workers. The sustained labor market strength provides the Federal Reserve the latitude to continue aggressively hiking interest rates to tame inflation.  t took just under 2-1/2 years to recover all the jobs compared to at least six years after the 2007-2009 Great Recession reported by Reuters.

• Home prices are forecast to rise more moderately than last year. Mortgage rates will respond to inflation, and home sales will be more in line with pre-pandemic years.

 

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