2022 Housing Market Forecast and Predictions: A Whirlwind Year
July 19, 2022
Per Realtor.com, Americans will have a better chance to find a home in 2022, but will face a competitive seller's market as first-time buyer demand outmatches the inventory recovery. Additionally, with listing prices, rents, and mortgage rates all expected to climb while incomes rise, 2022 will present a mixed bag of housing affordability challenges and opportunities. Whether the pandemic delayed plans or created new opportunities to make a move, Americans are poised for a whirlwind year of home buying in 2022. With more sellers expected to enter the market as buyer competition remains fierce, we anticipate strong home sales growth. 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.