It’s hard to believe, but we’re already halfway through 2022. So much has changed in just a few short years, and the real estate market is no exception. If you’re planning on buying or selling a home in 2022, it’s important to understand the market trends. In this blog post, we’ll look at some of the most important real estate trends of 2022. Keep reading to learn more!
Real Estate Trend 1: Slim Pickings for Home Buyers:
Slim pickings mean that there will be fewer homes for buyers to choose from. This is because more and more people want to purchase a home, while the number of homes available for sale remains relatively static. This trend is already beginning to present in some markets across the country and is expected to continue into 2022. If you’re planning on buying a home in 2022, it’s important to start your search early. You may have to be patient and prepared to compromise on your wish list to find the perfect home.
Real Estate Trend 2: Mortgage Rates Remain Low:
Mortgage rates have been at historical lows for several years and are expected to remain low throughout 2022. This is good news for home buyers, as it means they can qualify for a lower mortgage rate. This will make buying a home more affordable than ever before. What this means for buyers is that they should start shopping for a home sooner rather than later. With mortgage rates expected to remain low, there is no better time to buy a home than the present.
Real Estate Trend 3: The Rise of Luxury Rentals:
While purchasing luxury homes has decreased in recent years, the rental market for luxury properties has sharply increased. This is due largely to the fact that more and more people are choosing to rent instead of buy. Luxury rentals provide all the benefits of owning a luxury home without the high price tag. If you’re looking for a luxurious rental property in 2022, you can expect to pay top dollar. However, the rise in luxury rentals is good news for renters looking for high-end features and amenities.
Real Estate Trend 4: The Suburbs Are Booming:
The pandemic has caused many people to reevaluate their living situations. More and more people want to move out of densely populated areas and into the suburbs. This is because suburban areas offer more space and privacy than city apartments. Additionally, many people work from home, making commuting unnecessary.
Real Estate Trend 5: Home prices are still rising:
Home prices have been rising for the past few years and are expected to continue to rise in 2022. This is due to several factors, including low-interest rates, limited inventory, and high demand. If you’re planning on buying a home in 2022, be prepared to pay more than you would have just a few years ago.
Real Estate Trend 6: Online Real Estate Services Are Growing:
The pandemic has caused a major shift in how people buy and sell homes. More and more people are now using online real estate services like Redfin and Zillow to find their perfect home. These services give buyers access to a wider selection of houses and make home buying easier.
Real Estate Trend 7: Risky Buying Options Are More Accessible:
The pandemic has also made it easier for people to access risky buying options, such as rent-to-own homes and fixer-uppers. These properties are usually sold at a lower price than traditional homes. However, they come with a higher risk of default or foreclosure.
If you’re considering buying a rent-to-own home or fixer-upper in 2022, do your research first. Make sure that you understand the risks involved and are prepared to handle any repairs that may be needed. But if you are not on the buying and selling side of things, here are a few trends to be watchful of:
Equity probably won’t decrease through 2022:The trend of increasing home equity probably won’t change anytime soon. If you have been considering selling your home, now may be a good time.
A real estate market crash looks unlikely: There is always the potential for a market crash, but it looks unlikely soon. The real estate market has been strong for several years and is expected to remain strong through 2022.
Regardless of your neighborhood, buyers are interested: Even if your community hasn’t been the most popular in recent years, buyers are still interested. The pandemic has caused many people to reevaluate their priorities, and they are now looking for different features in a home. So, even if your neighborhood isn’t the trendiest, it may still be a good place to sell your home.
These are just a few real estate trends you can expect to see in 2022. Whether you’re buying or selling a home, staying up-to-date on these trends is important to make the best decisions for your situation. With interest rates expected to remain low and home prices rising, now is a great time to buy or sell a home.
