2022 Residential Housing Likely To Remain a Seller's Market

2022 Residential Housing, Likely To Remain, a Seller's Market.
According to the United States Census Bureau,
sales of new single-family homes in November of
2021 were 12.4% above October 2021's revised rate. .
According to the United States Census Bureau,
sales of new single-family homes in November of
2021 were 12.4% above October 2021's revised rate. .
'Newsweek' reports that if there's
ever been a seller's market
for residential housing, now is the time. .
'Newsweek' reports that if there's
ever been a seller's market
for residential housing, now is the time. .
Prior to the pandemic,
there already weren't enough
homes to meet demands. .
Mortgage rates dropped after the COVID
pandemic began, allowing wealthy
investors to snatch up properties. .
In the third quarter of 2021,
a record 18.2% of all home
purchases were investor driven. .
Now, the Federal Reserve
is working to combat rising inflation. .
As a result, long-term interest rates
on things like mortgages have begun to rise. .
Experts anticipate that the Fed
could make multiple rate hikes in 2022. .
This makes houses harder to afford, while
also slowing the pace of housing appreciation. .
'Newsweek' reports that the housing market
is likely to remain unpredictable
as overall economic uncertainty persists. .
The 2022 housing market is likely to continue
the trend of high demand and low supply,
putting young buyers at a disadvantage. .
According to 'Newsweek,' the market
will slowly start to correct itself
and prices should stabilize by 2023.