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Housing Market Predictions for 2022 and Other Appraisal News

McKissock

Plus, what will it take to modernize the appraisal process? Read on for this week’s appraisal news and insights. “Higher mortgage rates will end double-digit price growth and new listings will hit a 10-year high,” predicts Redfin. Opinion: The path to modernizing the appraisal process.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

Unless the listed home is in a favorable location, priced competitively and move-in ready, activity has been somewhat muted as prospective buyers and sellers wait for economic conditions to improve. Sellers who priced their homes appropriately enjoyed busy open houses in their first weekend on the market followed by multiple offers.

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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

Others – Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) – expect tremendous growth of new communities. And many of the new projects are larger than in years past. Builders began construction on just under a million single-family homes in 2020. Active listings as of Sept. SMILE FOR THE CAMERA.

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HOUSING ‘TRIFECT’ PUTTING SQUEEZE ON BUYERS

Will Springer Realtor

Others are specializing in the design and construction of accessory dwelling units (ADUs) as detached backyard homes (also known as “ mother-in-laws ”). The national trend for new construction, however, is generally moving in the opposite direction. In the 1990s, one-third of new homes were smaller than 1800 sq.

Buyers 36
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Will Springer Realtor - Untitled Article

Will Springer Realtor

Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. An annual survey released this month by the Federal Reserve Bank of New York said renters put the probability of ever owning a home at 40%, down from 44% last year.

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December Real Estate Market Update

Listing Spark

Across the major markets in Texas, our December real estate market update shows clear data points that we are ending the year in one of the strongest seller’s markets we have seen in modern history. . Here is a list of some of the companies moving to Texas. Months of Inventory (1.2 Months less than this time last year) .

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CITIES FACE DAUNTING OFFICE-VACANCY CHALLENGE

Will Springer Realtor

Our urban area accounts for about half of the city’s economic activity, and the Seattle Chamber noted that rising office vacancies coupled with less construction could lead to $2B in decreased revenue. We certainly see that in all forms of residential real estate – from new construction to finding items for the home.