As We Look Forward to 2022, What Can We Expect?
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The California Association of REALTORS® predicts the median sales price will increase by 5.2% and the number of sales will decrease by 5.2%.
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Danielle Hale, Chief Economist at Realtor.com predicts the number of sales will increase by 6.6%.
- There is no doubt interest rates will increase slightly throughout the year and we are already seeing changes in rates for jumbo loan products.
We are definitely in for another rollercoaster ride in real estate! Sue Yannccone, CEO and President of Realogy Franchise Group predicts demand will not diminish, she says, “Making up the largest share of home buyers in the US and entering their 30s and 40s at a growing rate, millennials are finally getting off the sidelines of the housing market. As we enter this period of sustained demand, inventory will be the metric to watch.”
