Currently Reading

Price Growth Picks Up at the Start of 2022

Market Data + Trends

Price Growth Picks Up at the Start of 2022

Zillow’s December market report suggests a dicey situation for homebuyers in the new year

January 20, 2022
new home construction

Nationwide housing inventory dipped to record-low levels in the final months of 2021, and waning supply is reigniting home price appreciation at the start of 2022, Zillow reports. After a modest drop in November, housing inventory suffered a steep decline in December, falling 40.5% compared to December 2019 with just 923,000 available homes across the nation. The December Zillow Home Value Index rose 19.6% from the previous year at an all-time high of $320,662. If December’s monthly price growth remains constant throughout 2022, the annual growth rate could jump another 17.7%, but deceleration is likely to grant some relief to a frenzied market. 

In June, the typical U.S. home spent just one week on the market before going under agreement. That time frame has risen every month since, to roughly 13 days in December (up from about 11 in November).  It’s worth noting that homes typically take longer to sell in the fall and winter months as back-to-school, shorter days and the holiday season all tend to eat into both buyers’ and sellers’ schedules. But while homes staying on the market less than two weeks before selling is still incredibly fast for midwinter, those extra few days may matter a lot to those buyers that need a little more time to assess their options. 

Along with a longer time on market, there is also typically a drop-off in homeowners putting their properties up for sale in December. But the 18.9% monthly drop in newly listed inventory last month was the largest in the last three years. The rise of the omicron variant of coronavirus could be partially responsible, pushing homeowners to wait for case counts to subside before listing. 

Read more

Related Stories

Market Data + Trends

Housing Inventory Is Falling at Its Slowest Pace in Two Years

April for-sale housing inventory fell at a single-digit year-over-year pace for the first time since the start of the pandemic

Housing Markets

Which Local Housing Markets Will See Price Reductions in 2022?

Some overheated housing markets are already seeing prices drop, but most will be bogged down by more gains throughout the majority of 2022


Nearly Half of All U.S. Homes Were Equity-Rich in the First Quarter of 2022

Equity-rich homeowners are cashing out and leaving pricey markets to buy new homes in low-cost states


More in Category


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.