What's really happening in 2022 ?!
1. Interest Rates:
Mortgage Interest Rates to rise to around 3.6% by end of 2022
Prices will rise by 5 – 7% (compared to 15% in 2021)
3. Supply of Inventory:
Supply of inventory to slightly increase, but still a challenge of an inventory/housing shortage.
4. Demand of Buyers:
Demand is predicted to be strong, but not a frenzy. Strong, Solid Demand predicted with competition easing compared to 2021.
Many experts cite Unpredictability to be high in 2022, as unforeseen world events, economic conditions and legal or regulation changes can greatly impact the housing market.
(Sources: Associations like National Association of Realtors, National Association of Home Builders, Companies like RedFin, RE/Max, Coldwell Banker, CoreLogic, Fundrise, and Forbes, and universities like UPENN Wharton)