Jeevan Sigdel - ProSmart Realty

A perfect storm. That's the best way to describe the red-hot housing market we've seen from coast-to-coast during the pandemic.

Boom, bust, or boring? Where the housing market is going in 2022 as told by 7 forecast models To see what home price growth is likely to look like next year, Fortune reviewed seven industry forecast models.

Lumber prices seem to set a new record almost daily, now up 67% this year and up 340% from a year ago, according to Random Lengths, a wood products industry tracking firm. And lumber doesn’t just go into framing a house. Those added costs hit cabinets, doors, windows and flooring.

Soaring lumber prices add $36,000 to the cost of a new home, and a fierce land grab is only making it worse As the housing market gets leaner, potential buyers are turning in greater numbers than ever to new construction, but builder costs are soaring.

- Beautiful home in Gilbert AZ - 2300 Sq ft. Congratulations to the Buyer!!

Mortgage rate sores above 3%!! Highest level since beginning of the pandemic!!

Mortgage rates soar above 3% — how high can they go before they scare off homebuyers? Are there any upsides to rising interest rates?