Remember how 2020 felt like being muffled inside a cotton candy ball? By comparison, 2021 has felt like a toboggan ride down a bobsled track. It’s clear by now that ‘normal’ isn’t what it used to be in the real estate market. What can we expect from 2022?
- Higher prices are probably going to be around for a while, since there are still more buyers than homes for sale.
- However, some analysts also say that we’ve overbuilt in response, and that when interest rates rise, along with inflation, we might see buyer demand drop. So as usual, no one really knows for sure. Remember, all real estate is local, so if you’re making plans, call me for specific local market conditions.
- Many people work from home now, all or partly, so we’ll continue to experiment with locations. This will cause small towns from Yarmouth, Nova Scotia, to Joshua Tree, California, to continue growing, at least in the short term.
- Younger workers will still need to live with parents more often, leading to more multi-generational housing and granny flat building.
If you’d like to move in 2022, call for a private consultation. There’s no obligation, just good information. (718) 399-3320 henrywattsrealestate1@gmail.com