Market Update November 30, 2022

Why 2022’s Market Will be Fascinating

Today let’s take a look at the forecast for the 2022 market. Right now, it looks like the word of the year will be “fascinating.” Inventory, interest rates, and inflation will all play a big part in our market. Here’s a look at what the future has in store for us: 


Inventory in 2021 was sparse, to say the least. If a home came on the market at a halfway decent price, it was gobbled up before you could blink. I anticipate that at the beginning of 2022, we’ll see a lot of the same. Inventory may rise later this year as interest rates increase and demand falls. 


Speaking of interest rates, the Federal Reserve has announced that interest rates will begin to rise in 2022. They’ve already increased a little bit, and they’ll probably be even higher by the end of the year. Right now, they’re floating in the mid 3% range, which is still a fantastic deal. We may see an influx of buyers trying to take advantage of our great rates while they last. 


Last, let’s talk about inflation. The other day, I saw an article that claimed inflation had increased to a 39-year high. At this point, it’s clear: inflation is here to stay, at least for the near future. Rates will increase to combat this, and while this is bad news for buyers, it could bring some much-needed stability to our market. No matter what happens with the three I’s, one thing is for sure—2022 will be fascinating. If you have any questions about how you should navigate our market, give my team a call or send us an email. We’d love to help you!