Experts Predict What the Housing Market Will Look Like in 2022 (Forbes)
The pandemic ignited a home-buying frenzy as the decade-long housing shortage converged with historically-low mortgage rates, shifting workplace dynamics and new opportunities for young buyers to pursue their first homes. As we near the end of 2021, here's a look at the expectations of real estate experts for 2022.
Dawn Pfaff, president and founder of My State MLS: "We are forecasting that prices will continue to rise in 2022 but at a more moderate pace than 2021. Going into 2022, demand won't be as high, and supply is going to be a bit better than 2021. Mortgage rates will grow but still be a reasonable value for home buyers. Inventory of available properties will remain low, but home builders are ramping up, and many sellers are itching to sell at their new higher prices. We expect rents to outpace home price growth because demand is still greater than supply. First-time home buyers will continue to struggle because of higher prices and the supply problem. Bottom line, 2022 is still going to be a seller's market, just not as frenetic as 2021."
What to Read Next
