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2022 Real Estate Market Look
Here's look at what's happening in the market right now and what to keep an eye over the coming months.
Housing Inventory Poised To Recover
After the tight inventory of 2021, the year shows signs of meaningful recovery. New Real Estate listing rose by around 5% in 2021. If this trend continues, expect more properties to hit the market in 2022
Expect Smaller Home Price Gains
Home values are expected to use slower in 2022, which might make the market a little better for buyers than the previous years.
Growth in Starter Home Listings
Housing inventory is shifting toward smaller homes as the share of homes having between 750 and 1,750 square feet has increased about 7% from 2020. This could be good news for millennials looking to purchase a starter home.
Historically Low Interest Rates
With mortgage rates near all time lows, buying now may mean locking in a a very low interest rate, the low interest rates make it a much more affordable time to buy a higher-priced home.
Cities are making a comeback
The 2021 rise in remote work led to many Americans moving to the suburbs, however, many homebuyers are looking to live in the city again. Housing industry data reveals online searches for urban properties surged.
How to pickup your ideal neighborhood
Whether you're buying or selling a home this year, here are some questions to ask yourself when deciding on a neighborhood.
What do you like or dislike about your current neighborhood?
Determine what you want in your next neighborhood by examining your current one. Knowing what traits you like band don't like will you choose.
Do you want to be able to walk within your community?
Walkable neighborhoods are becoming increasingly popular, so if it's important to you, make sure your new community is walking distance from your must have amenities like restaurants, shopping or a gym
Do you prefer a close-knit community or want some anonymity?
Some people you prefer the camaraderie of a tight-knit community where every knows their neighbors, while others prefer peace and privacy
What kind of commute do you want?
Perhaps you don't mind a longer commute and view it as personal time to reflect and listen to music, audiobooks or podcasts.
Watch the video and find out more!