So you want to buy a house? YESSS! This post is for you!
What to Expect in the Housing Market for the Rest of 2022
- Homes available for sale are likely to grow.
BUYERS: You’ll have more options, just be ready to act fast and put in your best offer upfront.
SELLERS: You may soon face more competition as other sellers list their homes. BUT, if you’re also in the market to buy, you’ll benefit from the boost in inventory.
- Mortgage rates will continue to respond to inflation.
BUYERS: Find a trusted agent and reputable lender, so you’ll know exactly how rising rates will impact your purchasing power.
SELLERS: Selling and then buying? Work with an agent to time your move so you, too, can take advantage of rates before they tick higher.
- Home prices will continue to climb, more moderately in some markets
BUYERS: Good news! In some markets, home prices are beginning to stabilize or moderately grow compared to earlier this year. Competition is decreasing, especially as some leave the market due to interest rate rise.
SELLERS: Current home prices are still great news for the value of your home and your bottom line. Just be sure to work with an agent who knows how to get you top dollar while staying on top of market conditions.
If you’re diving into the market this summer or fall, shoot me an email to chat — I’d love to help and tell you what I’m seeing in your neighborhood!