Join us as we take a quick look back before moving into what’s to come in 2022. Throughout the year, we experienced incredibly fast turn-around times from market to sold status. In fact, on average, over 80% of homes were selling in less than 30 days. Starter homes became as much a challenge to find as getting an offer to purchase accepted was! Buyers wrote love letters to accompany their purchase offers, offered higher price levels, hoping to sway sellers to accept their bid over the competition.
Will Housing Inventory Increase in 2022?
If you’ve been following the real estate market, you probably know that it has been many months since buyers and sellers enjoyed anything like business as usual, with record-low interest rates and inventory in markets both large and small. But now we may be able to envision a return to a real estate market that’s a little more like normal.
Are We Facing a Real Estate Bubble?
Recollections of the 2008 economic recession and the mortgage crisis that followed are fresh in the minds of many of the older Millennial and Gen-X homeowners burned by the housing market in the past. As buyers compete in multiple offer situations and pay well-above asking price for that new home—whether as first-time homebuyers or as move-up buyers—many are wondering whether the housing market is due for a correction.