Housing Market Forecast
Coming off of the unbelievable real estate market of 2021, experts are gaining a better grasp on the housing market of 2022 and using the data from the first half of the year to make more sound predictions for the housing market the rest of this year.
It has been said for some time that the explosion of real estate that we saw in 2021 is of the past, but certain aspects of that market remain. There is a shift in the market, moving from a quick turnaround to a stabilizing market.
Here are three components that experts predict will contribute to the future housing market:
Something to keep in mind as we move forward in 2022 is to price according to the market we are going into, not the market we are leaving. This means that while the average home price has risen, it will start to level out so being aware of that when pricing a property will be top of mind. As a professional real estate team, we use local data from active properties, pending properties, sold properties and more to see what the market would suggest as a fair listing price.
This also means that for those waiting to see if the market will crash before buying their next property, it looks as though that may not be the case in the near future according to these experts. If anything, as the market begins to show signs of shifting this will be the time for buyers to capitalize on homes that may start to sit on the market a little bit longer or be in need of a price reduction.
What we are seeing seems to be a market that is working its way back into more of a balanced situation. If you are in the market for a home or piece of land or are thinking about listing your home or property, we would love to sit down and have a conversation about what that would look like and help you move in the direction of your choice.
