Offered by: Jan Hepp-Struck, Hepp Realty
We made it through the roller coaster known as 2021, and though I’d love to say we can all just “sit back, catch our breath, and relax for a spell”, well, I just don’t see that in the cards. I think it’s safe to say that life as roller coaster ride IS our new norm and we all need to hold on tight, look for ways to help make our community and our world a better place, and celebrate the rainbows and silver linings along the way!
In terms of the real estate market, the Realtor.com economists and experts’ 2022 Housing Forecast is not much different from last year’s. There is every reason to believe that 2022 will continue the upward trend for sellers, though at a slightly less chaotic pace. Here are the highlights to watch for in 2022:
- Mortgage rates are expected to climb a little more throughout 2022, probably reaching somewhere around 3.5% by last quarter. If you aren’t planning to sell or haven’t refinanced recently, you may still want to consider refinancing now
to take advantage of rates that are still near historic lows.
- Home prices are expected to continue rising, though at a slower pace for 2022, and the rise will be more market dependent.
- The bidding wars and sales over listing price aren’t going anywhere but may calm down some depending upon the specific market.
- Housing inventory will remain limited, but not as bad as the last couple of years.
As always, we’re here to help you with your buying and selling needs. Working with an experienced and proven Realtor® is always the recommended path to avoid unnecessary pitfalls and obstacles when you are ready to make a move. In the meantime, we wish you all a happy, healthy, and prosperous new year!
For proven expertise in establishing your home value and/or searching for a new or existing home, please call Jan at (303) 520-4340.