Buying a Home in 2022
With only a couple more weeks left in 2021, many buyers are ready to look ahead at what’s to come in the real estate market for 2022. While no one holds a crystal ball to see the future, our team at Hudler Homes is here to monitor the trends and predictions that experts in the real estate industry predict for the new year. Take a moment to read through what experts are predicting for the real estate market in 2022 below!
Renting in 2022
Let’s first start with the basics: how is the housing market going to affect renters in 2022? Unfortunately for those looking to extend their lease or find a new rental property in the new year, things are going to look about the same as they did this year. With rising costs in the housing market, coupled with economic inflation, those prices are going to affect the rental housing marketing and pricing as well. Many people are looking for housing right now and with a limited inventory, some are going to be forced to find a rental. This, coupled with the fact that many people moved in with family or relatives during the pandemic and are now looking to move out into their own place, are making the rental market even more competitive. There’s also the fact that people are building new homes or renovating existing ones, sometimes to the extent that they have to move into a rental home while their new property is undergoing construction work. All of these factors combined have led to an increasingly competitive rental market, which is driving rental home prices up.
Buying in 2022
Did you know 2022 is the Year of the Tiger? Well that’s the mindset you need if you’re planning to buy a home in 2022 - you have to be aggressive. The year 2021 was undoubtedly a sellers market. We saw a crazy housing market with low inventory, plenty of buyers and a competitive advantage for anyone looking to sell their home. Experts are predicting this will not slow down in 2022. Even if inventory increases a bit in the new year, there are plenty of people looking to buy a home and that’s not slowing down in 2022. If a home is priced competitively and includes the necessary updates that buyers are looking for, don’t expect it to last long on the market. That being said, if you want to buy a home in 2022, you’re going to need to be ready to make an offer when the right property is presented to you. Much like 2021, the new year is most likely going to be competitive when it comes to new homes entering the housing market.. so be ready to get competitive!
Are you thinking of selling or buying a new home in 2022? If you are looking for a real estate agent who knows the Baltimore area and can help you explore your options, I’d love to meet with you. Reach out to me through my website or give me a call at (302) 545-8569, and follow my blog for more home buying tips!