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Relocation Trends for Buyers in 2022

Appraisal Buzz

Millennials Still Prefer Renovating. Although the Sun Belt has seen impressive growth, the homeowning population as a whole would rather renovate than relocate. Millennial homeowners led the way, with 75% of them renovating between 2020 and 2022. Inventory Shortage Won’t Be Solved. Greater Demand for More Space.

Buyers 370
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Will Springer Realtor - Untitled Article

Will Springer Realtor

months of inventory. Inventories across the county for all home types now stand at 2.2 Single-family inventory is unchanged from October at 2.1 Exclusive neighborhoods such as Medina and Mercer Island have roughly 4 months of single-family inventory. A little more than a third of inventory is under contract.

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WILL WAR IN UKRAINE IMPACT OUR HOUSING MARKET?

Will Springer Realtor

The supply chain, already strained, may come under renewed pressure with threats to shipping lines and air travel. Similar fears exist for the energy supply, equity markets, currencies, electric and internet grids, and defense of nations aligned against Russia. Condo inventory is not much better. There is 0.6