2022 Housing Forecast
What’s the forecast for 2022?
The 2021 real estate market broke records… So where are we headed in 2022?
Here’s what real estate experts are saying about what’s going to happen:
𝐈𝐍𝐓𝐄𝐑𝐄𝐒𝐓 𝐑𝐀𝐓𝐄𝐒
The past year we saw the lowest mortgage rates in history. Although interest rates are rising, they’re still projected to stay low. Experts don’t project that mortgage rates will rise drastically, however, any increase would mean an increase in monthly mortgage payment.
𝐇𝐎𝐌𝐄 𝐒𝐀𝐋𝐄𝐒
While you may think home sales are “slowing,” the market is actually moving toward a more balanced one than we have seen in recent years.
𝐇𝐎𝐌𝐄 𝐀𝐏𝐏𝐑𝐄𝐂𝐈𝐀𝐓𝐈𝐎𝐍
It’s important to remember that the 2021 market was anything but normal. As inventory starts to grow in 2022, experts anticipate price appreciation will become more moderate. Will home prices depreciate in 2022? Over 100 industry experts don’t think so. Instead, they’re projecting a more modest appreciation of 5.82% in the next 12 months, compared to the 11.74% rise seen in 2021.
𝐇𝐎𝐔𝐒𝐈𝐍𝐆 𝐈𝐍𝐕𝐄𝐍𝐓𝐎𝐑𝐘
Leading industry experts anticipate a rise in homes for sale. Some of the factors that lead experts to predict this include:
Homeowners may be more confident to put their homes on the market as Covid numbers decrease & more people become vaccinated.
Many of the obstacles interfering with new construction will start to fade, adding new inventory to the market
As forbearance comes to a close, new wave of homes may be up for sale as homeowners try to recoup their equity.
If you have questions about what all this means for you shoot us a message. We would love to talk with you about your specific situation.
Hokel Real Estate Team | www.hokelrealestateteam.com | 515-981-2113