CoreLogic Housing Market Forecast

In this video we are discussing the CoreLogic Home Price Insights Report that was published on March 1st, 2022. They are predicting their Home Price Index will rise 3.8% from January 2022 – January 2023. In 2022, they are forecasting home price appreciation will average 9.6%. This is down from 15% for 2021, but still higher than the 6% we had in 2020.

A Quote from the Chief Economist

I thought this quote from the chief economist, Dr. Frank Nothraft, was very insightful: “Much of what we’ve seen in the run-up of home prices over the last year has been the result of a perfect storm of supply and demand pressures. As we move further into 2022, economic factors – such as new home building and a rise in mortgage rates – are in motion to help relieve some of this pressure and steadily temper the rapid home price acceleration seen in 2021.”

How is Orange County Different?

Here in Orange County, we don’t have a lot of new home building. That is because there isn’t a whole lot of vacant land left to build on. This means Orange County will not experience nearly as much pressure from new homes being built. This is a positive factor if you want higher home prices in Orange County. If you would like to learn more about any of these topics please feel free to let me know and I will send you the articles you are interested in.

Below are a few interesting charts related to housing market values:

Stocks vs. Home Values: https://www.longtermtrends.net/stocks-to-real-estate-ratio/

Home Values vs. Median Income: https://www.longtermtrends.net/home-price-median-annual-income-ratio/

Home Values vs. Inflation https://www.longtermtrends.net/home-price-vs-inflation/

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By: Tim Hamilton

Broker Associate

Lic# 01959966

(714) 486-4086

timsellsca@gmail.com