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REAL ESTATE NEWS

As 2021 came to an end it showed a year of historically low mortgage rates. The market even saw it dip below 3%. Realtor.com expects that rates will rise this year and likely hover around 3.3 and possibly reaching 3.6% by the end of the year.

Inventory likely will remain low as we enter in 2022 and throughout the year as per Housingwire.com. Homes during the winter are on average selling in less than 49 days which as compared to a typical winter month prior was 85 to 100 days. It’s important for buyers to be realistic when buying a home due to the low inventory and competitive market their “dream home” may not check every box.

Since COVID it has changed the way people look at their home, especially when buying a new home. People are really thinking about more space, inside and outside. In many areas buyers are trading urban areas for the suburbs. Per Realtor.com viewers of suburban homes have gone up 42.1% since the beginning of COVID.