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