Happy New Year!
Everyone keeps asking me for predictions for 2022 in the real estate market, so I thought I would share some thoughts on the topic.
With homes still selling faster than builders can build new homes, and with today's seniors being less likely to downsize than previous generations, 2021 has been a difficult one for home buyers forced into stressful bidding wars because of the lack of available inventory of homes.
But is that changing? Will demand decrease, or supply chain challenges fade and allow more homes to be built in 2022? Is this winter’s cooling of the market indicative of re-balancing & normalization, or just seasonality that will give way to a Spring of bidding wars and increasing prices?
My guess is that we all better prepare for another high-demand, low inventory year. I don't think it will be quite the intensity of 2021, but still a strong and appreciating market. There is no easy fix for the housing shortage and it seems demand for housing inventory will stay elevated for the foreseeable future.
So, is it a good time to sell? Definitely. Your home will sell for a strong price in today's market, and you will be more likely to be able to negotiate terms favorable to you due to the dynamics.
But is it a good time to buy? Also yes. The prices are continuing to increase and the interest rates are low - waiting for the prices to be higher and the interest rates to increase isn't going to benefit you.
Whether selling or buying (or both), I am here to help you navigate the marketplace to achieve your best result. My office is open 7 days a week for your convenience - and we are all looking forward to hearing from you.Laura Harbison, ABR, AHWD, BPOR, BS, CDPE, CRS, DRB, GRI, PSA, RSPS, SRES
Broker/Owner REALTY EXECUTIVES SOUTHERN NEVADA PROPERTIES
License Numbers B.0026537LLC PM.0164922.BKR