Over 2020 and 2021, the housing market saw unprecedented changes and fluctuations which had never been seen before. Between the onset and continuation of the COVID 19 pandemic, the rise of now-permanent remote-work environments (or opportunities!), plus just more people wanting a different environment to escape the hustle and bustle of many cities, the market has been up, down, and all around. So what moving trends should we look for in 2022? What are the housing market trends for 2022? Let’s find out together, shall we?
Over the past couple of years, the housing market has definitely been a ‘seller’s market’, as there have been very low numbers of homes on the market, for high prices, and have experienced huge competition amongst buyers.
In 2022, trend forecasters are predicting a more ‘buyer-friendly’ market, with more homes being put up for sale, and more variety in the market. With inventory rising, there will be more varied choices and lowered competition amongst buyers, since they have more to choose from. With inventory up, we’re headed toward a market resembling what will be the new normal.
With more homes being put onto the market in 2022, this increased variability amongst buyers’ choice may create less competition, and lowered home prices. This eventual lowering of home prices will probably not come for a while, as inventory is only starting to balance out, and the market remains tight.
However, the difference between this year and 2021 is that we’ll be experiencing a much slower growth of home prices in comparison to the past year.
Without a commute tethering them to city living, many now-remote workers are moving out of dense metropolitan areas to more spaced out suburban areas.
This allows those to continue to work for their big-city jobs, without the commute or having to deal with densely populated environments amidst the pandemic. It’s because of this that many are headed to the suburbs, even if some may not stay there long-term.
Despite people moving to the suburbs rather than into cities, those who love their cities are predicted to move not too far away from their current homes, and in their same areas. It’s predicted that those committed to city living will be more focused on their individual home and what they can get in neighboring areas, without leaving their city environment.
Now that we’ve discussed the possible moving trends to look out for in 2022, it’s time to look to the future! If you’re looking to buy a home this year, make sure to pay attention to the year’s housing trends, and shop accordingly.
Additionally, once you’ve procured your new home, make sure you’ve got the right movers on your side!! For all things moving and storage, check out the unparalleled services provided by EE Ward Moving & Storage Co. We’ve the experience and expertise to get you where you need to go – quickly and safely!