For the 2nd quarter of 2022 in Countryside, on average, home prices are up 10% from this time last year. We anticipate that prices will level off (not drop) and get back to pre-pandemic appreciation averages of 3-5% / year.
But are you worried about what the potential recession might bring? Historically, a recession does not mean a housing crash. The circumstances that caused the 2008 bubble are not happening in our current market. Interest rates have slowed the market down but serious buyers are still in need of housing and ready to purchase.
For more information about our current market and if we will see a housing crash, read my other post here: Recession and a Housing Bubble