Over the last year home prices are up a staggering 19.8%! According to Fannie Mae the U.S. housing market will cool somewhat, as median home prices are expected to rise 7.9% in the next year. On average U.S. home prices have climbed 4.1% since 1987.

Also important is Fannie Mae’s expectation that the average 30-year mortgage will rise from 3.1% to 3.4%.  Downward pressure on prices from rising interest rates won’t be enough to pull prices down, especially in San Diego.  Zillow forecasts home prices jumping 13.6% while Goldman Sachs is predicting an increase of 16%!

While forecasts for 2022 are simply that, a guarantee for the coming year is rising interest rates.  Let’s talk about your home purchase goals, and get out there and find your perfect home before those rates rise!