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’s happening with home prices?

November 12, 2021

What’s happening with home prices?

Many people have questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? Here’s a look at the answers to all three of these questions.

How much have home values appreciated over the last 12 months?

According to the latest Home Price Index from CoreLogic, home values have increased by 18.1% compared to this time last year. Additionally, prices have gone up at an accelerated pace for each of the last eight months (see graph below):

The increase in the rate of appreciation that’s shown by CoreLogic coincides with data from the other two main home price indices: the FHFA Home Price Index and the S&P Case Shiller Index.

The last year has shown tremendous home price appreciation, which is resulting in a major gain in wealth for homeowners through rising equity.

What’s happening with home prices right now?

All three indices mentioned above also show that while appreciation is in the high double digits right now, that price acceleration is beginning to level off (see graph below):

Year-over-year appreciation is still close to 20 percent, but it’s clearly plateauing at that rate. Many experts believe it will drop below 15 percent by the end of the year. Keep in mind, that doesn’t mean home values will depreciate. It means the rate of appreciation will slow, yet stay well above the 25-year average of 5.1 percent.

What about next year?

The recent surge in prices is the result of heavy buyer demand and a shortage of homes available for sale. Most experts believe that as more housing inventory comes to market (both new construction and existing homes), the supply and demand for housing will come more into balance. That balance will bring a lower rate of appreciation in 2022. Here’s a look at home price forecasts from six major entities, and they all project future appreciation:

  1. Fannie Mae
  2. Freddie Mac
  3. Mortgage Bankers Association
  4. Home Price Expectation Survey
  5. Zelman & Associates
  6. National Association of Realtors

While the projected rate of appreciation varies among the experts, due to things like supply chain challenges, virus variants, and more, it’s clear that home values will continue to appreciate next year.

Bottom Line: There have been historic levels of home price appreciation over the last year. That pace will slow as we finish 2021 and enter into 2022. Prices will still rise in value, just at a much more moderate pace, which is good news for the housing market.

Filed Under: Market Trends Tagged With: Appreciation, Home Prices, Supply & Demand

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

"Russ has handled a number of real estate transactions for us and we’ve been entirely satisfied with his ability to deal with every aspect in an efficient, resourceful manner. We have complete confidence in him. "
- D.M., Los Alamitos CA
"My experience with Russ selling my mom’s house for us was great. I’m in northern Idaho and he dealt with everything for me with out me having to go to Green Valley. I feel he went above and beyond the call of duty. I not only recommend him, I am going to use him to sell mom’s other house. THANKS, Russ."
- B.M., Bonners Ferry ID
"Russ was a pleasure to work with. Being we’re in Seattle and buying in Green Valley, Arizona, Russ made the process very easy and comfortable. The transaction, with the help of Russ, went smoothly and without any hitches. He was quick to respond with any concerns or questions. I would recommend him for your real estate needs without hesitation. Having first hand knowledge of Green Valley was a bonus for us."
- B.E., 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