Housing Market 2022 Predictions

Dated: October 29 2021

Views: 89

While 2021 faced its fair share of ups and downs, we know one thing to be true: the real estate market not only met expert predictions, it surpassed them, breaking records along the way.

With that in mind, there’s one big blaring question right now: will the 2022 housing market continue to follow same trajectory, or are we facing a possible downturn?

Let’s take a deep dive into what leading real estate experts are projecting for the final quarter of 2021 and what to expect in 2022 so you have the knowledge and confidence you need to succeed.

One of the biggest drivers for 2021’s booming real estate market was record-low mortgage rates.

Because of this, affordability reached one of the highest levels it has in the last 30 years. Naturally, eager buyers followed.

The good news is, experts are predicting that mortgage rates will remain low for the foreseeable future.

While home prices continue to appreciate across the country (more on that later), the counter of the low mortgage rates means homes are still affordable to purchase, albeit slightly less than it was at the beginning of the year.

The constant battle between high buyer demand and low inventory in 2021 led to a surge in home values that left everyone scared we were headed for another housing bubble.

There’s no hiding the fact that this year’s home price escalation was a bit excessive. However, it was also just a result of simple economics – high buyer demand coupled with extremely low supply.

As inventory starts to grow, experts anticipate price appreciation will slow.

There’s no doubting it. The last two years have been some of the craziest years in the history of real estate. 

While experts are noticing home sales slightly slowing, that definitely doesn’t mean the market is slow. It’s just returning to a more balanced one than we have seen in recent years. 

We are real estate professionals. We can help  you navigate this crazy real estate market. Call us at 540-825-9898

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