Green Valley Homes | Search Green Valley AZ Real Estate and Homes for Sale | Russ Fortuno, Tierra Antigua Realty
Register Login (520) 333-0446
  • Bloglovin
  • Email
  • Facebook
  • LinkedIn
  • Home
  • Green Valley Homes
    • Green Valley
    • Quail Creek
    • Sahuarita
    • Tubac
  • Quail Creek Homes
  • Area Information
    • Dining Out
    • Golf
    • Green Valley Recreation
    • Mover’s Guide
    • Visitor’s Information
  • Buyers
  • Sellers
  • About
  • Blog
You are here: Home / Blog / Market Trends

What does the rest of the year hold for home prices?

August 11, 2022

 What does the rest of the year hold for home prices?

Whether you’re a potential homebuyer, seller, or both, you probably want to know: will home prices fall this year? Let’s break down what’s happening with home prices, where experts say they’re headed, and why this matters for your homeownership goals.

Last year’s rapid home price growth wasn’t the norm

In 2021, home prices appreciated quickly. One reason why is that record-low mortgage rates motivated more buyers to enter the market. As a result, there were more people looking to make a purchase than there were homes available for sale. That led to competitive bidding wars which drove prices up.

“Price appreciation averaged 15 percent for the full year of 2021, up from the 2020 full year average of 6 percent,” according to CoreLogic.

In other words, the pace of appreciation in 2021 far surpassed the 6% the market saw in 2020. And even that appreciation was greater than the pre-pandemic norm which was typically around 3.8%. This goes to show, 2021 was an anomaly in the housing market spurred by more buyers than homes for sale.

Home price appreciation moderates today

This year, home price appreciation is slowing (or decelerating) from the feverish pace the market saw over the past two years. According to the latest forecasts, experts say on average, nationwide, prices will still appreciate by roughly 10% in 2022 (see graph below):

Home price forecast

Why do all of these experts agree prices will continue to rise? It’s simple. Even though housing supply is growing today, it’s still low overall thanks to several factors, including a long period of under building homes. And experts say that’s going to help keep upward pressure on home prices this year. Additionally, since mortgage rates are higher this year than they were last year, buyer demand has slowed.

As the market undergoes this change, it’s true price appreciation this year won’t match the feverish pace in 2021. But the rapid appreciation the market saw last year wasn’t sustainable anyway.

What does that mean for you?

Today, the market is beginning to move back toward pre-pandemic levels. But even the forecast for 10% home price growth in 2022 is well beyond the 3.8% that’s more typical for a normal market.

So, despite what you may have heard, experts say home prices won’t fall in most markets. They’ll just appreciate more moderately.

If you’re worried the house you’re trying to sell or the home you want to buy will decrease in value, you should know experts aren’t calling for depreciation in most markets, just deceleration. That means your home should still grow in value, just not as fast as it did last year.

Bottom Line

If you’re thinking of making a move, you shouldn’t wait for prices to fall. Experts say nationally, prices will continue to appreciate this year, just at a more moderate pace. When you’re ready to begin the process of buying or selling, let’s connect so you have a local market expert on your side each step of the way.

Filed Under: Market Trends Tagged With: Appreciation, Deceleration, Home Prices, Inventory, Mortgage Interest Rates

New Listing

NOTIFICATIONS

  • Email Alerts for New Listings
  • Save Your Favorites
  • Schedule Showing Requests
  • Price Change Notifications
  • Plus More…

Sign Up

What’s Your

HOME WORTH?

Find Out

Client

TESTIMONIALS

"As Real Estate Brokers in Hawaii for more than 40 years, we know how important a good agent is when looking to buy property when you can’t be there. After seeing a property listed by Russ, we called and talked with him. He came across as very knowledgeable, competent, helpful, and friendly so we asked Russ to send us new listings for the type of property we were looking for, which he did. When a property came up that we liked we contacted Russ and had him arrange to show the place to our son who lives in Green Valley. Everything looked great so we had Russ write and present our offer, which was accepted. Russ followed through with everything required and kept us up to date each step through escrow and the final closing. We are very happy with how Russ treated us and made sure everything got done when it needed to be done. Every step of this purchase was handled by phone and email. We recommend Russ to everyone looking for a good agent to represent them in Real Estate."
- J.H., Anchorage AK
"From start to finish, Russ Fortuno was “a class act.” It started with his online Home Buyer’s Guide which was helpful to me, a first-time, out-of-state buyer. His new listing email notifications were timely and helped me get familiar with the Green Valley properties that fit my budget. Then when I was ready to buy, he represented me as a buyer’s agent. He professionally led me through the entire process with great knowledge of the available properties, as well as the subsequent offer and purchasing process. I found Russ to be very clear and direct. He went above and beyond what I expected. Even after the closing, he arranged the removal of some unwanted furniture and helped me identify cleaning and painting services in the area, something few other agents would do. I would highly recommend his services to anyone without reservation!"
- E.D., Green Valley, AZ
"Russ has done excellent work for us. I have purchased several homes over the years and he is the best I have worked with. We chose Russ on a recommendation from a family member. He didn’t try to sell us on him or his firm. No “fluff talk”, pestering, unnecessary calls, emails or text. Instead, he showed us properties we were interested in and some that we were not aware of. Never felt the least bit of pressure. He was very patient, pleasant and responsive. He has a very relaxed yet professional style. He explained everything in a manner that was easy to understand and we felt very secure throughout the process. He is the best ever. In our mind he is the gold standard of what a Realtor should be."
- N.L., Green Valley AZ
View All

Listing Notifications

Sign Up! New listings delivered to your inbox!
Sign Up Now

Stay Connected

  • Bloglovin
  • Email
  • Facebook
  • LinkedIn
  • Phone

agent photo

Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

© 2025 Russell E Fortuno PLLC, All Rights Reserved. ADRE BR658088000   •   Privacy