Some Exciting News for 2022, and A Look Back at 2021🎉
A Note from Amy:
2021 Reflections & Predictions
At Amy Balewicz Real Estate, we look forward to our year ahead and providing an even higher level of service to our clients and community as we continue to grow.
We are excited to share this year's forecast with you as the real estate market continues to remain strong. Read on to learn more about current predictions and what changes we may see in the real estate market in 2022!
As we enter 2022, we reflect back on the real estate markets historic performance that we experienced in 2021. The housing market has remained a strong pillar in an otherwise tumultuous economic year. Low inventory and a sharp increase in demand, spurred by record-low interest rates, has had a dramatic impact on homeowner equity.
As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? Here’s a look at what the experts say we can expect in 2022.
“Forecasts put interest rates at about 3.7% by the end of next year. That’s still historically low, but certainly higher than they are today.”
“Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first homes sooner than they might have otherwise. With more than 45 million millennials within the prime first-time buying ages of 26-35 heading into 2022, the market will remain competitive.”
A growing number of homeowners are expected to bring properties to market, taking some pressure off high prices and offering buyers more options. Home prices will continue to rise but at a slower pace.”
What Does This Mean for Buyers?
Hope is on the horizon for 2022. You should see your options grow as more homes are listed and some of the peak intensity of buyer competition starts to ease. Rising rates and prices are a great motivator for you to buy a home sooner rather than later so you can buy while today’s affordability is still in your favor.
What Does This Mean for Sellers?
This sellers’ market will remain in 2022 as home prices are projected to continue climbing, just at a more moderate pace. Selling your house while buyer demand is high will truly put you in the driver’s seat, but don’t wait too long. With more listings projected to become available, your ideal window of opportunity won’t last forever.
If you have questions about your current home value, where the market is heading, or just have general real estate questions, let’s connect to discuss your goals and the unique opportunities you have in today’s housing market!
~Amy
Below is a summary of market trends, 2020 vs 2021, for the communities of Bolton, Stow, & Lancaster. You can also find real time, detailed market information for these communities and many others on our website!
To view and/or subscribe to our new customizable market reports, click on the link below!
Are You Thinking About Selling? It may be best not to wait for the traditional "spring market". You can take advantage of low competition and high buyer demand by listing in January or February.
Watch this short video where Amy explains why now is the time to sell!
