What Are Market Trends In Real Estate?
RH Business Marketing Solutions
If you’re in the market to buy or sell a home, you must be curious to know what the market trends look like in 2022 and beyond. In this article, we give a breakdown of the housing climate and how you can take advantage of these changing trends when navigating the San Pedro real estate market.
1. Home Inventory Is Shrinking
The housing inventory is shrinking, but that doesn't mean you won't have options—it just means you'll have fewer options. If you're looking to buy a home in 2022, consider looking at homes that are currently on the market or homes that have been recently sold (and are still available).
2. Rising Mortgage Rates
Mortgage rates have been rising steadily since 2017, but they are expected to continue their upward trajectory in 2022. This is because the Federal Reserve has signaled that it will be raising rates at least three more times before the end of 2022.
3. Baby Boomers Are Retiring
The baby boomer generation is one of the largest generations in history and they're starting to retire now. With so many people retiring at once, this is creating a huge demand for new homes and apartments that are suitable for older adults and retirees.
4. The Number Of Homes To Be Built Will Increase Significantly
According to Zillow's Housing Confidence Index – which measures consumer confidence in housing – there has been a steady increase in consumer confidence over the past few years, which means more people are planning on building or buying homes in 2022 than ever before!
5. Annual Home Values Are Still Rising
Real estate is a solid investment, and people continue to invest in homes despite the recession. The good news is that home values are still rising, so real estate trends will continue to rise as well. If you're looking for a way to make money on your home, consider selling it now before the market goes up even more. "Real estate prices in the US are rising steadily and this is a trend we're generally seeing all over the world - including the UK property market. There are so many opportunities for property investment when you look abroad - you might need specialist finance, but it's generally very accessible" - Luther Yeates, Head of Mortgages at UK Expat Mortgage
6. Online Real Estate Services Are Growing
Online real estate services like Wendy’s Real Estate have been growing in popularity over the past few years, and they're not showing any signs of slowing down yet. These services are great if you want to sell your home fast or find one that fits your needs perfectly—especially if you don't want to deal with agents or commissions!
7. Risky Buying Options Are More Accessible
Risky buying options like lease-to-own agreements are becoming more accessible than ever before thanks to online platforms like Rent-To-Own Now! This means that even those who can't afford traditional mortgage payments can still get into the market by signing up for these kinds of deals early on in their life cycle (assuming they have enough cash).
Final Thoughts
Overall, these seven trends demonstrate the interconnected nature of real estate (especially abroad) and the economy. Though it's impossible to predict what will actually occur in the future, these trends are telling of how interconnected everything is becoming and how interdependent people's lives will be in even more ways going forward.
Author bio-
Wendy Leibowitz is a licensed Real Estate Broker working in the South Bay since 1985. She began her career with Sun Realty in Manhattan Beach. Wendy made a name for herself specializing in Single Family Residence, duplexes, and income properties 2-4 units.