What Will Our Market Look Like This Year?

What will our 2022 market look like? Here are my best projections.

Today I wanted to bring you our latest market update. Real estate has been crazy for the last couple of years. If you’ve been thinking about selling or buying but haven’t been able to find a home that you like, this year seems like it will be more of the same.  

Our average annual appreciation in Texas ranges between 3.4% and 3.9%. However, last year, we saw a record-breaking 16% appreciation. That’s why house prices have skyrocketed, but it’s not sustainable; it won't continue this year.  

Economists project around 5% home price appreciation this year, but I don’t believe that we’ll see that much. We are at an all-time high for home values, and times like this don’t last forever. Home values can change in an instant, just like the stock market can. 

Again, we saw huge price increases last year, so let me know if you are wondering about your home’s value. I can give you a free market analysis of your house. Now is the best time to sell because we have no inventory. We are at an all-time low for inventory at a national level, which means we have a ton of buyers out there looking for homes. Some of them might have been looking for over a year now. 

"Don’t worry about finding your next home. There is always a solution."

If you are thinking of buying, have a conversation with us. Let’s see what your home is worth and how long it would take to sell. We also have professional stagers who can figure out what it will take to make your house look like a model home. If you’re worried about finding a new house, we have several people who have gone into short-term rentals while they wait for that perfect home to come onto the market. 

Hopefully, we’ll see more inventory come onto the market in 2022. We need more homes on the market because we are at such a deficit right now. You have to keep in mind that every time a home is sold, it feeds so many other industries: movers, insurance agents, cleaners, landscapers, painters, title companies, and more. 26 other industries are affected by a home sale, so we in the real estate industry are really helping the economy.

We need your help. If you are a homeowner who wants to capitalize on your equity, reach out. Those of you who have been in your homes for five to 15 years now, good lord, let us show you just how much equity you have. I know I’m always looking out for investment opportunities, so maybe you could sell your house now and buy some investment properties.

We will see increased interest rates in 2022. If you haven’t been paying attention, they’ve already gone up. You might still get slightly under 3%, but for most, rates are already over 3%. As the months progress, you’ll see up to 4%. If you’re a buyer, now is a great time to buy. Think about the difference in your monthly payments just from 3% to 4%. 

So it looks like our market will be strong this year. We need more homes in the market, but don’t be afraid about finding your next house. There is always a solution.

If you’re looking to buy or sell or just have some questions, feel free to call or email us. We can also give you a free home valuation; just schedule it on our website!

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