8 Hopeful Predictions for the Housing Market In 2022

Mindful of the old saying that the only things you can predict are death and taxes, we’re going to chance our luck and try and predict what will happen with the housing market in 2022.

#1: Low-Interest Rate Environment Will Not Endure

A low-interest-rate environment makes housing more affordable, pushing home prices higher as more buyers compete for the same limited supply.

#2: More Renters

The number of renters increased even before the pandemic. Due to the large number of millennials reaching adulthood, there was record household growth.

#3: The Price of Homes Will Continue To Be Strong

It’s all about supply and demand. People are moving out of cities, apartments, and condos due to COVID.

#4: A Potential Rise in the Number of Buyers

IBuyers are companies that purchase and own homes. iBuyers buy houses at a discount, repair them, and then resell them to the general public for a profit.

#5: The Housing Market Will Be Affected By Political Uncertainty

The presidential election year was an intense period, leaving consumers feeling uncertain and fearful. Additionally, those who were disappointed in the election results can now relax knowing Congress has been split.

#6: Millennials and Gen Zers Are More Likely To Buy a Second Home

In part due to the popularity of applications like Zillow, young people are becoming savvy observers of the housing market. The idea of purchasing a second home is a good way to break into the market while mortgage rates are low and build equity, perhaps with the assistance of family or friends to ease the financial burden.

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