Market Predictions
You’ve probably heard it a million times already, but it’s still shocking how fast time has flown! That’s why you’ll also hear real estate agents repeat over and over again that right now is the best time to purchase a home. However, before you get purchase-happy, it’s important to do market research first. If you’re thinking about purchasing a home this year, look no further than this quick rundown of the newest real estate market predictions:
- The predicted leading demographic of homeowners? Millennials. They’re approaching the prime age to become first-time home buyers.
- Housing prices are predicted to climb between 3% to 14% in the next 12 months.
- Mortgage rates are predicted to change from 2.98% to between 2.5% and 7.9%.
Your eyes aren’t playing tricks on you — these predictions are quite vague.
The reality is, 2022 trends are difficult to predict because there are still many unknowns. For example, we don’t know if supply chain issues will continue, how material inventory will be affected, and how purchasing activity will change coming out of the pandemic.
The best advice? Take all predictions with a grain of salt and talk to your local real estate agent for updates!
Thinking about buying or selling this winter?
Call us today for a free market valuation or to find out how we can help you sell faster!
We can be reached 24/7 at 315-820-4200 or online at
christmascountryhomes.com/contact-christmas-country-homes/
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