An update on our real estate market in the first quarter of 2022.
Today I’ll talk about what’s going on in our real estate market in the first quarter of 2022. The Houston real estate market has been turbulent to say the least. Based on the current conditions, though, this might be a perfect opportunity to list your property. Here are three reasons why that’s the case:
1. Low inventory and supply chain issues. Experts predict that both of those trends are going to continue throughout the year. This is good news for home sellers because low supply means higher prices.
2. Prices are still rising. After another strong year of appreciation, 2022 may see a slight slowdown. Homes will still increase in value, but the rate at which they appreciate is expected to pull back based on predictions from Fannie Mae and the National Association of Realtors.
3. Low interest rates. Currently, the average interest rate on a 30-year fixed-rate mortgage is in the low 4% range and rising. The Federal Reserve announced that it’s going to wind down bond purchases. That will cause rates to increase across the board and may cause even more buyers to enter the market before the higher rates make buying less affordable.
“If you’re looking to sell, the time to act is right now. ”
Home price growth is slowing compared to what we’ve seen over the last few years, and home prices might eventually start to decrease. When that happens, we’re going to enter a buyer’s market. If you’re looking to sell, the time to act is right now.
If you’d like more info on what your home is currently worth, call me for a no-obligation comparative market analysis. If you have any other questions, visit my website and don’t hesitate to reach out to me by phone or email. I look forward to hearing from you.
