2022 may mean new things in the near future, including a home or rental property. There have been discussions on the news and online about the housing market, if a housing market crash will occur, or other housing market predictions that should be considered as you start or continue your search. The housing market is important to all of us because it impacts value in the area, the types of neighborhoods that will spring up, and the businesses built around the homes. So with that in mind, this breakdown of the housing market may be very useful.
What can buyers expect, and will there be a housing market crash?
Sellers have had no real issues finding buyers, and bids on homes are often plentiful. What will that mean for 2022? A peak in home sales is slated to happen, surpassing any sales over the previous sixteen years. It is being reported largely by housing experts that the inventory in this housing market will remain low. Additionally, Atlanta is projected to be in the top twenty cities regarding the steepest rises in home prices across the country. The discussions about another housing market crash because of 2020 and all of the issues worldwide seem to remain only chatter as the housing market stays competitive. When considering the number of homes in the housing market and the interest rates, if you are still planning on purchasing, be equipped to deal with the high demand. Based on many housing market predictions, 2022 is slated to mimic the last two years.
Tips for the Current Housing Market
With patience and preparation, you can still land your dream home in the 2022 housing market, no matter what the housing market predictions may foreshadow. A buyer wants to get pre-approved for a loan first. This is essential for knowing what you qualify for and where to look for your home in the current housing market. Check out our blog for some tips on Preparing for a Mortgage. It is suggested that you are prepared to offer over the asking price if you love the house and it works for you to do so. If you are comfortable eliminating many requests for the seller, that can work in your favor to be more appealing to them. Some buyers may also offer to cover fees on the seller’s end because of the demand. Take your time and consider all expenses while looking in this housing market, as much as you can.