If you’re planning on buying or selling a home this year, it’s wise to start doing your research on the market sooner than later. Knowing the real estate 2022 forecast will help you prepare to make the most intelligent decision for both buying and selling. Here’s the real estate 2022 forecast and what you can expect as the year moves forward.
The housing market last year was fiercely competitive. There was a lot of demand and not enough supply to accommodate it, which caused strain and tension for buyers. The real estate 2022 forecast will see these scales level out more than the past year, with supply and demand approaching a healthy balance.
Low supply and heavy competition led to home sales happening extremely fast—a huge portion of homes sold within just a few weeks in 2021. The forecast for real estate 2022 forecast predicts homes are still selling quickly but not nearly as lightning-fast as the past year. The competition will still be intense, but a boosted inventory means more options and slightly slower sales. Homebuyers in 2022 should consider being as flexible as possible with their moving dates to improve their chances.
The prices of homes skyrocketed last year, primarily driven by high demand and low supply. The real estate 2022 forecast will see this trend continued, but much like sales, it will be at a slower rate. A more balanced market means more balanced prices overall. This doesn’t mean homebuyers will have the luxury of haggling, but they should have a smoother process than they did in 2021.
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Buying or selling a home is one of the most significant decisions in your lifetime. Venture Title Agency is here to help you with expert guidance toward smooth closings. Whether you’re buying or selling, we’ll prepare you for the year ahead. Contact us today to learn more!