2021 was a crazy year & one of the hottest markets in history. 2022 will continue to be a sellers’ market for sure, due to inventory shortage. Price increases are not expected to be what they were in 2021, more towards a normal rate but fir the month of January offers are being made well over asking prices again. Interest rates are expected to rise, the more rates rise the more buyers will not be able to make as high of an offer as they once could. Inflation and rising interest rates will reduce buyers purchasing power. Affordability will become more of an issue for many buyers because of these factors. The suburbs will continue to be hot with working from home and more and more groups of buyer’s age 25-35 wanting to move to the suburbs for better affordability. Inventory is expected to rise but will still be a struggle in 2022. In addition, with rents rising this makes for more of a drive to own. Homeownership is still the best way to build wealth.
Whether you are looking to sell or buy I would love to go over your current situation with you and develop a strategy for your success. I will give you all the knowledge you need to make a decision that works best for you.
All the best to you, Lisa Joy