I keep getting asked if I feel that the Housing market will Crash?
I Understand it’s a Valid Question especially after we saw what happened back in 2008.
So, let’s look at what Experts are saying.
And I’ve been in the real estate industry for over 20 years now.
So, how did the RE market do in 2021?
Well according to NAR, the housing market actually went up 18.8 % from 2020 which is the most since The Great Depression.
And over here in Miami it went up 28.8%.
Here is an Infographic provided by Keeping Current Matters of what experts are forecasting for 2022.
We see an average of 5.1% house price increase thanks to low supply and high buyer demand.
The experts are also predicting the Mortgage Rates to rise in 2022 but yet will still remain historically low as they are predicting an average of 3.5 %.
And they are also predicting that the home sales will remain strong as more people move to meet their changing needs.
The President of Showing Time says and I quote:
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“Showings traditionally lag during the holiday season, but the data we’re seeing tells us that buyer demand remains strong. The fact that every region showed a year-over-year increase indicates that buyers are undeterred and it speaks to their desire to keep searching for their next home.” And these numbers are absolutely crushing the showing numbers from before the world went sideways. Buyers are out there, and they are ready!
So how does this relate to buyers and sellers?
Well, make sure you know what the market looks like so you know what to expect when you are deciding if now is the right time for you to buy or sell!
Feel free to reach out to me at no cost or risk for a hassle-free strategy session. I’m looking forward to hearing from you.