Housing Market Trends To Be on the Lookout for in 2022
The housing market can seem unpredictable, but there are still observable trends. Here are the housing market trends to be on the lookout for in 2022.
Everyone needs a house, and consequently, the market is unpredictable. While everyone is looking, trends come and go, prices go up and down, and availability is always uncertain. Here are a few housing market trends to be on the lookout for in 2022 so you can know what to look for when buying a house and what other buyers are looking for.
Because home prices are so high right now, many feel it is a good time to sell their homes. While this is true, many think the peak is coming soon. To raise their selling price even more, people have been investing in home remodels. More people continue moving to Arizona and looking for homes, and they may just want yours. While this is true, and there are buyers on the market, your home is not guaranteed to sell. Thankfully, a home remodel can significantly help. You can attract buyers with an updated kitchen and bathroom and with the fact that they won’t need to do renovations themselves.
Competition is Changing
As mentioned previously, the housing market is difficult to predict, and right now, prices are high. They’ve been high for a while now, and as prices were rising, more people were buying up homes. People who wanted to buy homes are out, and since prices are still high, many feel deterred from trying to find the right house. Interest rates have also been rising alongside housing prices, so many feel that the buying season has peaked. While this could be true, it’s not true that no one is looking for homes or that the right home is impossible to find—the right buyers and the right homes are still out there.
Homes come in all different shapes, sizes, and styles, and one style that has been taking over this last decade and shows no signs of slowing down is the farmhouse style. A farmhouse-style home has many attractive characteristics: tall ceilings, open spaces, natural light, and white colors. They serve as an excellent canvas for any home buyer as they are not alienating and are easily customizable. Expect to see many more of these in the future, as well as other remodels and newer homes incorporating farmhouse elements.
These are the housing market trends to be on the lookout for in 2022, but knowing how variable the market is, these could quickly shift into something different. However, until some force outside of the market disrupts everything, these trends should remain steady for the foreseeable future.