Our Outlook for the 2022 Market Year

Click here for a home evaluation.

Over the past year, home prices have soared by 20% in some areas, but that did very little to increase our inventory. That’s because buyer demand was just that strong.

In 2022, experts believe that prices won’t be quite as extravagant, but they will continue to grow. Goldman-Sachs said, “Of all the shortages afflicting the U.S. economy, the housing shortage might last the longest. While the supply of homes for sale has increased modestly since the spring, it remains well below pre-pandemic levels, and the outlook offers no quick fixes for the shortage.”

Experts noted that “These conditions have done nothing to slow buyer demand. In October of 2021, one-third of homes in over 400 metro areas went under contract in only a week.”

Lawrence Yun of the National Association of Realtors said regarding home sales: “Although there should be a slowdown going into 2022, they will likely remain above pre-pandemic levels.”

Since our extreme market conditions have failed to slow buyer demand, the disparity between demand and supply suggests that prices will surge throughout the 2020s. This is great news for sellers, less so for buyers.

 If you’re looking for a professional to help you sell your house for top dollar or you have any questions about real estate, don’t hesitate to give us a call. Mr. Licorice and I hope to hear from you soon!