Bold 2022 Expert Forecast
There are many varying opinions about how the 2022 housing market will be. We’ve gathered the stands of big housing market names and categorized them on what they have to say about the mortgage rates, the housing prices and the inventory for this coming year. On mortgage rates: According to Jarred Kessler, founder and CEO of EasyKnock, the mortgage rates will definitely go up. Realtor.com recently released a statement that agrees with this stand. They said that despite the improvement of the economy, mortgage rates are expected to go up. This might be helpful in slowing the increase rate of home prices. There’s an expected average of 3.3% increase, according to realtor.com and might even be close to 3.6% by the end of 2022. This is significantly higher as compared to the 2.65% rate in the January’s first week for the past 30 years. On home prices: Realtor.com recent article forecasted an increase of 2.9% for home prices. This is still a slower and lower rate as compated the the 12% rise this 2021. Fortune.com also forecasted a 4.08% rise of home prices by 2022 in the state of California alone. Unfortunately, renters would not have it easier since realtor.com sees a rental price surge by 7.1% by next year. This is a much higher price increase that would befall renters. On house inventory: 2021 has been a strong seller’s market and it is expected to be no different this coming 2022. The number of first-time buyers far exceeds the inventory. Experts agree that there would be an increase of at lest 0.3% but it still could not match the demand for homes. Other areas of concern: Millennials are still expected to be great players in the market. There are 45 million millennials who will be between the ages 26 to 35, of which are the primary homebuying years. We can also expect that more building companies with help increase the inventory, hopefully giving millennials more options to choose from. The suburbs will also continue to be in demand next year as more jobs continue to be remote and the demand for more space also increases. The climate would also play a significant part in the housing market. Sellers are more like to invest in homes that are resistant to climate change or add features to current homes that would be more climate-friendly. Summary Mortgage rates would increase, house prices would increase and there will be efforts for builders to increase inventory to keep up with the demand. This might sound challenging for potential home buyers, and it is! The key in winning in this market is having a real estate professional whom you can trust with every aspect of the process. If you’re still looking for a trusted agent, we’re here to help. Call us today at 925-415-0835!
Things to Consider When Selling This Winter
So you're planning to sell your home this winter and in need of a guide to doing it without any hassle. First off, here are the smartest reasons why you should sell this winter: 1. Your House Will Stand Out Despite research by realtor.com showing that more sellers are getting ready to list their homes, it’s still stands true that there an influx of buyers in the market searching for their new home. If you sell sooner, the more attention it will get from the number of serious buyers. 2. Your House Will Likely Get Multiple Offers True to the law of supply and demand, the lower the supply, the higher the demand which only means that buyers are willing to give their best offers once they fall in love with your home. The Realtors Confidence Index from the National Association of Realtors (NAR) shows sellers are getting an average of 3.6 offers in today’s market. 3. Your House Should Sell Quickly The average number of days homes are selling right now is 18 days. In less than 3 weeks, your home could be sold and you can move on to the next chapter of your life! Top-choice, multiple offers to choose from with so little time! Who doesn't want that, right? But of course, we know that just giving you these reasons is not enough to convince you to sell your home. Like any other smart seller, you need full disclosure of what's going to happen and the complex process of selling your home this season. You're in luck! We have a complete guide for you. What You'll Get: Expert Insights for Home Sellers Sellers' incredible leverage Using Your Equity Renovating before Selling Free Checklist on Home Selling and more! Get it here! Looking for a place to move once you sold your home? Check out our complete home buyers guide for this winter here! Need a real estate professional in East Bay? Whether you are selling or buying, the Rama Mehra Team is the team for you! Read what our clients are raving about.
Things to Consider When Buying a Home This Winter
This winter is going to be a very strategic time to buy a home. You might be here because of our recent post showing you the reasons to buy this winter. Or maybe you're just here because you're already planning to buy this month! That's great! We have carefully gathered relevant and recent data to give you enough knowledge to gauge whether you can make the move of buying your first home or buying your next new home as your season in life also change. We are giving this guide for free and if you have any questions, just send us a message at hello@asanterealty.com or call us at 925-415-0835. We'd be more than glad to help you with your homebuying journey. So what's in our home buying guide (winter 2021 edition)? Here's what you will know: Experts' Insights for Home Buyers What's the Future for Home Prices The Truth about the 3% Mortgage Rates What to Avoid after Applying for a Mortgage How to Make the Best Offer and more! Get the complete guide here. Happy home buying! Not planning to buy? Maybe you're planning to sell this winter. Click here to download the full guide for sellers.
Categories
Recent Posts
