Here are my predictions for our local real estate market in 2022.

Today I wanted to give you my predictions for real estate in 2022. 

We’re going to see more foreclosures. We’ve had such a long pause of foreclosures that they will have to start picking up. We’ve already seen more and more foreclosures making it to the courthouse, so I think that trend will continue.

I also think we’re going to see a bit more inventory, which will cause our prices to level out. We still have strong demand from our millennial buyers, which is supporting our market. 

We saw an 18% increase in prices from September 2020 to September 2021. That’s aggressive, and I don’t think we’ll see that same sort of appreciation next year. Hopefully, investors will sell off their traditional rental properties, but I don’t think that’s going to happen.

My mortgage partners and I all expect interest rates to increase. Inflation causes inflation everywhere. Take my advice: Buy today while rates are still low.

Give me a call at 480-712-7980. Let me help you with all of your real estate needs today.