2022 Real Estate Predictions
What should we anticipate in the real estate market in 2022? No one really knows, but we discuss several predictions on today’s show!
Ready for a new year to begin? What could that mean if you are considering buying or selling a house next year? Angie shares her thoughts on some real estate predictions for the new year.
As the pandemic continues, how do some predict the Omicron variant could impact the housing market? Some say that mortgage rates could go back down and if we have new lockdowns, it could delay homeowners from listing their home. When the pandemic first hit in 2020, there was an initial freak out but ultimately there wasn’t a significant shift in business. Angie talks about how some counties in the Triangle handled the different lockdowns when it comes to buying or selling a home. Given the past, Angie doesn’t foresee Omicron being extra disruptive.
In 2022, some are projecting home prices to stay high but price growth to slow. The urgency created by needing more space and a home office during the pandemic has dwindled a bit. The inventory remains low though, so prices are continuing to appreciate. People may want to sell their home but without knowing what they’ll have to buy, there are not as many homes going on the market.
For first-time homebuyers, high prices and bidding wars can be difficult to navigate. Angie has seen a lot of first-time homebuyers rise to the occasion though with an understanding of what today’s market is like.
Finally, what should we expect for mortgage rates and rent expenses? Some say mortgage rates will go up, but it is hard to know for sure. The rental market is also projected to rise and Angie agrees that she thinks rent will increase in 2022.
Listen to the entire episode of the show or skip ahead to possible 2022 predictions using the timestamps below.
0:45 - How is the Omicron variant impacting the housing market?
4:26 - Will 2022 raise home prices?
6:09 - Will inventory continue to be limited?
7:39 - Is it going to be a tough year for first-time homebuyers?
9:00 - Where are mortgage rates headed?
10:46 - Will rent get more expensive?
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