Thinking about purchasing a home in 2022? The newest market predictions are rolling in:
The leading demographic in 2022 is going to be millennials since many are approaching the prime age to become home buyers. Housing prices may climb anywhere from 14% to 3% in the next 12 months. Mortgage rates are expected to change from 2.98% to anywhere between 2.5% and 7.9% Forecasts for 2022 are still a bit unknown because there are still a lot of unknowns, including possible supply chain issues and how material inventory will be affected
At the end of the day, this news is quite confusing because of so many unknown factors.
However, one thing remains clear: take all predictions you see with a grain of salt because these past couple of years have been anomalies.
Another way to stay up-to-date with predictions is to contact your local real estate agent! If you're thinking about buying or selling soon, please call us at 843-338-7256, so we can discuss how The Cobb Group may be of service to you.
If you would like to read more on 2022 Real Estate Predictions, click here to see what an expert in the industry is forecasting.
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