
10/6
2022: A Look Ahead in Real Estate
We’re three months away from the next year – and real estate experts are already looking ahead to see what might be coming for homebuyers and sellers.
According to a recent report from the National Association of Realtors, experts are estimating that home prices will likely climb 5.5% in 2022. When it comes to mortgage rates, they expect that the 30-year-fixed mortgage might be between 3.0% and 3.25%.
They’re also predicting housing starts of 1.50 million.
If you’re wondering if this might mean you should purchase a home now or later, Denny Ceizyk, LendingTree’s senior staff writer for mortgage, has some advice: “While home prices are rising, interest rates remain [near] 60-year lows, making it much more affordable to buy higher-priced homes.”
Before making any big decision, such as purchasing a home, you’ll need to carefully look at your finances and talk with your lender to see what options you might have.
For more real estate news, stop by Kittitas Title’s Blog.
Posted in: Human Interest, Real Estate Industry News