Agents nationwide expect resale home prices to rise 7% in 2022

by Patrick Regan

Agents predict resale home prices to increase 7% and sales volume to rise 6% this year, a Burns Real Estate Agent survey found.

John Burns Real Estate Consulting surveyed 4,000 agents in 462 markets about their sales and volume forecasts for 2022. Agents were surveyed in December and results were published Jan. 22. 

The results show nationwide optimism that the hot housing market will continue, although not at the levels seen in much of 2021, when resale home prices skyrocketed 18%. 

Just 22% of agents surveyed in December described the pace of new listings as “faster” than the same time the previous year.

Agents reported a rising number of multiple-offer listings and all-cash offers, reflecting the low inventory and high demand throughout much of the country. Ninety-two percent of agents surveyed said buyers outnumber sellers.

The survey’s results varied slightly by region and market. 

In Seattle, 33% of agents surveyed said they expect resale transactions to increase by at least 10% in 2022. Not surprisingly, 94% of agents surveyed in the Northwest, where inventory is historically low, said buyers outnumber sellers.

Said an unnamed Seattle agent quoted in the survey report: “I expect 2022 to be busy with buyers trying to find housing before potential interest rate hikes and the stress of an unknown election cycle begins again in 2023.” 

The Burns Resale Housing Market Index sits at 75 out of 100. It scored sales activity a 60 out of 100 (50 is considered “normal”); expected sales activity in the next six months scored 85 out of 100; and demand for housing scored a 95 on the 100-point scale (50 is considered balanced supply and demand).

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