The most recent statistics from Realtor.com housing survey (8/8/2022) show nationwide year-on-year appreciation at 15.6%.
That rate of price growth also seems to hold close to Central Ohio appreciation rates, too.
Will this rate of growth continue next year?
My studies would indicate a slowing rate of growth moving forward.
An example of a slowing rate of growth would be a rate closer to 5-6% annually, definitely not 15.6% anymore.
This fall I also expect to see some season erosion of property values.
Some sellers will be over-pricing their homes, but with fewer buyers in the market, price reductions will be more common.
Have a great week!
Baker Realty Group