Experts Predict What The Housing Market Will Look Like In 2022
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.
Quote from Carla Ferreira:
Carla Ferreira, director of onsite development and principal at The Aurora Highlands: We anticipate a strong 2022 for the Colorado market as lot availability widens, the economy stabilizes further and more product is offered. Home sales should increase as buyers are feeling urgency with expected interest rate increases coupled with rising prices in 2022.
The trend of Millennials moving to the suburbs will continue as will the moderate increase in new home prices. Homeowners are looking towards master-planned communities that offer home buyers amenities, room to grow and home offices.
Approximately 75% of new home starts are currently larger communities. We do anticipate a 10% to 12% increase for starts and closing, however there will continue to be a lag in closing times due to supplier and labor challenges.