(OP)inions House prices

March 23, 2022 

The consequences of the Ukraine conflict are rippling through the global economy. The housing market is no exception. 

Should buyers expect similar shocks to those that have roiled financial markets worldwide？ 

Russias invasion of Ukraine last week immediately sent markets worldwide into a volatile frenzy, which has magnified insecurity and could lead to reduced spending. But it is still unclear whether the conflict in Ukraine will lead to higher home prices for Americans and other markets.  

The early months of 2022 have not been easy for prospective homebuyers—just like basically all of 2021. A combination of low inventory and record demand for new homes has led to prices skyrocketing. Some key commodities for new home construction, such as lumber, have reached record-high price levels, and experts predict home prices to rise by as much as 22% this spring. The definitive CoreLogic housing indexfound that last summers jump in home price growth was the largest in over 45 years. 

So far, it is unclear how the situation in Ukraine will affect housing but an escalation of both the conflict and of geopolitical tensions could change all that very quickly. 

OnePro Special Analyst

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