Real Estate Market Report – First Quarter 2022

What’s Happening in the Real Estate Market, the First Quarter of 2022? 

Homes are selling fast, and there’s high competition among buyers!

Why?

There’s an influx of buyers looking for homes today; affluent buyers are abundant, many are motivated to beat rising mortgage rates, and many want to escape rising rents. There’s also additional demand from millennials who are reaching peak home-buying age.

How is the Current Real Estate Market?

Real estate markets do not shift easily or gradually, contrary to common opinion. There are moments of abrupt shifts followed by additional shifts, just like everything else. Only the massive increase in selling prices or number of units sold can be seen if you look at the year-over-year changes in our present market.

While some homeowners may be tempted to hold to list their houses, you should know – homebuyers aren’t waiting. Demand is high today as more people are trying to beat rising mortgage rates. As a result, eager buyers are entering the market or moving their plans up so they can make their purchases as soon as possible. That means demand for your house isn’t just increasing – it’s high right now.