{"id":19510,"date":"2022-01-26T12:48:59","date_gmt":"2022-01-26T17:48:59","guid":{"rendered":"https:\/\/lakelandgazette.info\/news\/?p=19510"},"modified":"2022-01-26T12:49:10","modified_gmt":"2022-01-26T17:49:10","slug":"2022-housing-market-predictions","status":"publish","type":"post","link":"https:\/\/lakelandgazette.info\/news\/2022\/01\/26\/2022-housing-market-predictions\/","title":{"rendered":"2022 Housing Market Predictions"},"content":{"rendered":"\n

By S&D Real Estate Services<\/p>\n\n\n\n

\"\"
2022 written on notepad with a business objects.<\/figcaption><\/figure>\n\n\n\n

The housing market is very complex and shares close ties with the U.S economy. Even the slightest shift can have implications for home buyers and Real Estate agents.<\/p>\n\n\n\n

Read more to learn what experts are saying about the housing market in the new year.<\/p>\n\n\n\n

Housing market now<\/h1>\n\n\n\n

Coinciding with the pandemic in 2020, supply chain shortages and lack of new builds made it difficult for buyers to find new homes in 2021.<\/p>\n\n\n\n

COVID-19 has played a major role in impacted spending and production. At the start of the pandemic, building materials were bought up early as homeowners were eager to start home renovations.<\/p>\n\n\n\n

Meanwhile, new products could not reach stores. Either because they weren\u2019t being produced or because of backups in the supply chain.<\/p>\n\n\n\n

This low supply and high demand created a strong seller\u2019s market, which led to higher home prices. And even though houses cost more, bidding wars became normal.<\/p>\n\n\n\n

With this high competition, homes were selling in a matter of days or even hours. This gave sellers the upper hand.<\/p>\n\n\n\n

However, buyers continue to engage with the market since lower mortgage rates and remote work made homeownership a possibility.<\/p>\n\n\n\n

The future of supply and demand<\/h1>\n\n\n\n

Experts agree that the housing market will continue to favor sellers. They expect the demand for homes to outpace the supply for some time.  <\/p>\n\n\n\n

Changes in economic conditions are already affecting buyers. For example, lumber prices went up as demand for building material outpaced supply.<\/p>\n\n\n\n

However, according to Kuba Jewgieniew, CEO of Royalty ONE Group, lumber prices are expected to stabilize over the next year. Which will make building new homes affordable for many people.<\/p>\n\n\n\n

This relationship between supply and demand will continue to be the main predictor of how things will turn out.<\/p>\n\n\n\n

However, as income increases and employment rates move back to normal levels, the market should begin to balance out. <\/p>\n\n\n\n

Interest rates & consumer confidence<\/h1>\n\n\n\n

Another factor predicted to change the market is the adjustment of interest rates by the Federal Reserve<\/a>.<\/p>\n\n\n\n

The housing market is sustained through a system of loans and interest rates, flowing down from the federal level.<\/p>\n\n\n\n

When inflation is high, the Federal Reserve raises interest rates, which affects home loans.  <\/p>\n\n\n\n

Higher mortgage rates<\/a> mean buyers will have to pay more for homes. This could discourage buyers and slow things down.<\/p>\n\n\n\n

Another factor that affects the market is consumer confidence. When people are optimistic about the future, they tend to invest in long-term goals, like houses.<\/p>\n\n\n\n

According to Kuba Jewgieniew, consumer confidence and investments<\/a> are growing as the pandemic era evolves.<\/p>\n\n\n\n

The housing market in 2022<\/h1>\n\n\n\n

The housing market has been ever-changing over the last two years. The pandemic highlighted how all changes influence the opportunities available to home buyers and investors.<\/p>\n\n\n\n

However, the market\u2019s relationship with the economy offers hope for 2022. Supply and demand should balance out over time.<\/p>\n\n\n\n

This balance will eventually turn to favor buyers again in the future. In the meantime, sellers can make the most of this time in history.<\/p>\n\n\n\n

SOURCE<\/a><\/p>\n\n\n\n

S&D Real Estate Services, LLC
2000 E. Edgewood Drive; Suite 103
Lakeland, FL  33803-3600<\/p>\n\n\n\n

863-824-7169<\/a><\/p>\n\n\n\n

dee@shawnanddee.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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