2022 is likely to bring more balance to the housing market. But don’t expect a buyer’s market; just more selection, less frenzy and slower price growth.
Economists say the market forces that have given sellers the upper hand over the past two years — tight supply after years of underbuilding, and elevated demand because of remote work, U.S. demographics and low mortgage rates — will persist this year. They expect bidding wars on many homes, especially as the market heats up during the spring and summer shopping season.
More newly built homes and more homeowners listing their homes for sale should lead to a decline in home-price growth later this year. This is good news for the many would-be buyers who are currently priced out or delaying decisions because of low supply conditions and steep home-price appreciation.
2022 may not be as tumultuous as previous years, but the market is still jumping. Now, more than ever, you need an experienced partner to help you navigate. Whether you are buying or selling, I can help. Call or text me today to get started: (919) 291-5704
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