What's really happening in 2022 ?!
1. Interest Rates:
Mortgage Interest Rates to rise to around 3.6% by end of 2022
2. Prices
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.
5. (un)Predictability:
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)
