Here are three reasons why now is the time to buy and sell real estate.
As we begin a new year, here are three projections I’m making for our real estate market in 2022:
1. Interest rates will go up. They won’t skyrocket, but they could be up to 4% by the end of the year. Just a 1% increase in rates will equal a 10% increase in your mortgage payment.
2. House prices will rise. Home values will continue appreciating throughout 2022. This is thanks to low supply and high demand. Home values should appreciate by about 5% this year.
3. Home sales are going to be strong again in 2022. We have similar conditions to last year, which means we should see a similarly strong number of sales.
What does this all mean? Now is the time to buy or sell. As we move closer toward the end of the year, both prices and interest rates will increase. It’s a great time to get your home sold for top dollar and buy to lock in a low interest rate now.
If you have any questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.