2022 Housing Market Forecast [INFOGRAPHIC]

Some Highlights

• What does the coming year hold for the housing market? Here’s what experts project for 2022.
• Mortgage rates are projected to rise and so are home prices. Experts are forecasting buyer demand will remain strong as people try to capitalize on rates and prices before they climb, creating another strong year for home sales.
• Let’s connect so you can make your best move in the new year.

As we look ahead to the coming year, the housing market is expected to be dynamic, with several key trends shaping the landscape. Here’s what experts are forecasting for 2022:

1. Rising Mortgage Rates

Mortgage rates are expected to rise in the coming year. While they remain relatively low compared to historical standards, any increase in rates can impact buyers’ purchasing power. This could encourage potential buyers to act quickly before rates go up, leading to continued demand for homes.

2. Home Prices Are Set to Climb

Home prices are expected to continue their upward trajectory in 2022. While the rate of growth may moderate slightly, the overall trend suggests that home values will keep appreciating. This means that both buyers and sellers will need to adjust their expectations. For buyers, acting sooner rather than later may allow them to lock in a home at a lower price before values increase further.

3. Strong Buyer Demand

Despite rising rates and prices, experts predict that buyer demand will remain strong. Many buyers will be looking to secure homes before prices climb even higher or mortgage rates rise further. The pandemic has shifted people’s priorities, with many seeking more space or the flexibility of remote work options, which continues to drive demand in suburban and rural areas.

4. Another Competitive Year for Home Sales

With strong demand, sellers are likely to continue seeing multiple offers and fast sales. For buyers, this means competition will be fierce, especially in highly desirable areas. Having the right strategy, including being pre-approved for a mortgage and working with an experienced agent, will be key to securing the right home.

Ready to Make Your Move?

Whether you’re buying or selling, the housing market in 2022 is expected to offer opportunities for those who are prepared. Let’s connect so you can make the best move in the new year, whether you’re looking to secure your dream home or capitalize on the current market as a seller.