Zillow Revises Projections Downward in May

Zillow thinks the housing market is going to see growth over this next year but not as much as they originally thought, according to their latest monthly report…(Zillow)

• Y-O-Y: Zillow’s home value forecast calls for home value growth of 11.6% through April 2023, down from 14.9% in March.

• NEXT 3 MONTHS: Zillow expects home values to grow 5.2% over the next three months, down from an expectation of 5.5% in March.

Zillow’s forecast for existing-home sales fell 360k to 5.73 million sales in 2022. That would mark a 6.4% decrease from 2021.

• NOTE: 5.73 million sales would still be the second-best calendar year since 2006.