While nobody has a crystal ball, here is what I feel we can expect in 2022.
With inventory on the rise, buyers should have more options in 2022.
Prices Will Remain
With strong growth in the market, prices likely won’t drop.
A More Normal Process
The process of purchasing a home will become more balanced. Worrying about multiple offers and outbidding may not be as common, however there will always be exceptions to this rule.
Mortgage Rates Will Increase
While rates won’t likely skyrocket, the incredibly low rates we are seeing will tick back up.
Suburbs Will Stay Popular
With many people still working from home, craving a higher quality of life and good schools, the suburbs are attracting many, especially millennials.