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To save a listing to your list of favorites, click into the listing you're interested in and simply click the "Save Listing" button from the listing details page.

You have now saved your listing!

To view your saved listings, click on the top " Saved Listings" link at the top of the screen near the menu. Save as many as you want and catalog them with this easy-to-use feature!

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2022 Housing Trends and Forecasts

2021 was another record-breaking year for the U.S. housing market. Experts expect the market to cool down slightly according to some metrics in 2022, but records will still be broken.

Here’s what to expect in 2022.

Read More: 2021 Housing Trends and Forecasts

 

2022 Housing Market Forecasts

  • Home sales are predicted to increase about 6.6%
  • Housing demand will remain strong, but inventory will also pick up
  • Home prices to increase at a more moderate rate than in 2021
  • Climbing interest and mortgage rates

 

2022 Housing Trend Predictions

Home Prices

Home prices are expected to continue increasing at 2.9% - 5%, a more modest growth rate than we saw in 2021.

Home Sales

On the other hand, home sales growth is expected to reach 16-year highs in some areas at 6.6%, outpacing 2021.

Read More: Statistics About Home Sales During Covid-19

Millennials Hit the Market

Over 45 million millennials ages 26 to 35 are expected to propel housing demand as they purchase their first home in 2022.

Read More: Home Buyers Before and During Covid-19

Rent Growth to Outpace Home Price Growth

Rebounding from slow growth early in the pandemic, rent is forecasted to grow around 7.1% in 2022.

Read More: The Pros and Cons of Renting vs. Buying

Suburbs Still Souring

With remote work becoming ever more popular, people are finding themselves interested in relocating further away from the office to get closer to nature in the beach or mountains.

Read More: Kingsport, TN – Emerging Housing Market Fall 2021

Supply Chain Issues Hinder New Construction

The demand for new homes is there, but labor shortages and supply chain snags will continue to limit progress.

Climate Change

It’s a bit of an unknown as to when climate change will become a dominating factor in the real estate market. Experts expect to see an increase in home inspections due to weather and fire, and we may begin to see more energy efficient models in new construction.

Read More: Home Inspection FAQ

 

Housing market predictions can help you get an idea of what to expect when buying or selling a home, but they shouldn’t dictate your decisions. Navigating this complicated market is simpler with an expert on your side. Blue Ridge Properties has you covered. Browse our agents here: https://www.brphomes.com/Agents or contact us online, by phone (423-247-4181), or in person at one of our offices.