- Many of the same dynamics that were seen in 2021 will continue into next year’s housing markets, though at a slower pace.
- Remote work is becoming more common and permanent. Millennials are taking advantage of this trend and entering the real-estate market.
- We are ready to help another seller in a market. There is no time to waste, just like last year. Contact us now to get started planning!
What buyers and sellers need to know about the 2022 housing market
Both home buyers and sellers are looking forward to 2022 in the last weeks of 2021. Our team can help you build your strategy so that you remain competitive. Don’t wait until the spring and summer heat up in the real estate industry. This is what you need to do to stay ahead of your competition in next year’s real estate market.
The market can be challenging for first-time homebuyers
According to recent real estate forecasts, competitiveness will become the dominant characteristic of the housing market through 2022. This will be particularly true for first-time buyers.
Low inventory supply and high buyer demand will keep housing market values at or above asking prices. The total inventory will rise by 2022 but will not be sufficient to slow down the seller’s market.
To help first-time buyers secure their home, they should start early and anticipate competition. Low interest rates are a good thing for first-time home buyers, as they can build equity quicker.
Millennials are now working remotely and buying their first homes.
In the last two years, a lot has happened. There were many buzzwords such as “the new normal”, and speculations about how people would live, work, and commute. We now have data reports, and we can begin to see how these changes will affect the housing market as we move into 2022.
Remote working is now possible for the 45 million Millennials, who make up the fastest-growing segment of buyers. They are now entering the prime age group of 26-35, which is changing the real estate landscape.
Millennials are moving away from the glamor of big cities to enjoy more affordable housing in suburban and rural areas. Their salary will remain the same as long as they have internet connectivity. Unsurprisingly, 99 percent of them use technology for research on the home-buying market.
Remote work is becoming more popular than ever with 90% of employees and managers reporting they are happy working remotely and 47% of workers reporting that their productivity has increased. As companies reduce their offices, the new normal will create new investment opportunities.
This post was written by Dayana Susterman Dotoli. Dayana is the head real estate agent for the Tiffany House In Ft. Lauderdale Beach. Dayana has assisted over 150 individuals with buying, selling, and leasing at Tiffany House. The Tiffany House Residences is a 12 story tower, offers 129 residences, including 1, 2 and 3-bedroom condominiums and townhomes, with exclusive, resort-style amenities and views of the Intracoastal Waterway and the Atlantic Ocean. To view our Fort Lauderdale oceanfront condos for sale, Contact us today!