Zillow Says Its Home-Price Increase Prediction Was Too Conservative -- Here's What It's Saying Now
As last year wound down, the conventional wisdom was that home-price acceleration would cool considerably this year. About six weeks into the new year, there's a new conventional wisdom.
The same factors that have driven home prices to record highs through the pandemic are persisting, and some of those forecasters are now revising their forecasts.
For instance, the economists at Zillow (NASDAQ: Z): On Dec. 8, they predicted an 11% jump in home values for 2022. On Jan. 19, they changed that to 16.4%. Why? "The robust long-term outlook is driven by our expectations for tight market conditions to persist, with demand for housing exceeding the supply of available homes," the latter report said.
Source Fool.com
