The real estate market in 2021 has been like nothing we have seen before. What does 2022 has in store for us?
Expect slower housing price appreciation, easing inflation and rising interest rates in 2022 - according to NAR (National Association of Realtors).
"Overall, survey participants believe we'll see the housing market and broader economy normalize next year," Yun said. "Though forecasted to rise 4%, inflation will decelerate after hefty gains in 2021, while home price increases are also expected to ease with an annual appreciation of less than 6%. Slowing price growth will partly be the consequence of interest rate hikes by the Federal Reserve."
The NAR expects 30-year fixed mortgage rates to end 2022 at 3.7%, up from a recent 3.2%,…