The last couple of years have seen some of the most extremes situations one could imagine in the real estate market. With COVID-19, supply chain issues, historically low-interest rates, and numerous other scenarios that took place, the real estate market is anything but boring. This article from c|net highlights some of what has happened and the impact that has occurred as well as explores what to expect as we enter into 2022. I look forward to your thoughts on the article and let me know if you want help with any of your real estate needs.
Tim Houterloot - Broker/Realtor
317-997-0165 - Cell
indyhomepro@outlook.com
Source: c|net | Repost Houterloot 1/11/2022 -
The last 22 months have been some of the wildest in real estate history, as the COVID-19 pandemic accelerated the speed and intensity of recent trends. Home prices surged to record-breaking highs. Interest rates dropped to historic lows. And, amongst it all, the new era of online home buying and selling took further root. On top of that, just about every contemporary macro-economic trend -- from inflation to supply chain woes to labor shortages -- made an appearance in the 2021 housing market, increasing the advantages of existing homeowners, daunting prospective homebuyers, and ultimately, further widening wealth inequality in the US.
Though no one can predict what the next year will bring, we've asked some industry experts to help us read the tea leaves. Perhaps most significantly, home prices are expected to continue to rise, though at a slower rate than last year. As such, the 2022 housing market will present challenges for new buyers looking to get a foothold. For those looking to sell, new technologies like iBuying will continue to streamline and simplify real estate transactions. And existing homeowners will likely have another year to capitalize on rising property values through refinancing -- if they haven't already.
Read the full article...
