Thinking of Buying a House This Winter in Metro Detroit?
No 1 question in Metro Detroit, will they lose money when Buying a House in 2022? ~
If you’re thinking of buying a home in today’s housing market, you may be wondering how substantial your investment will be. You might be asking yourself: if I buy a home now, will it lose value? Or will it continue to appreciate going forward? According to experts, the good news is that home prices are not projected to decline. Here’s why.
With buyers still outweighing sellers, home prices are forecast to continue climbing in 2022. Why the continued increase? Due to higher interest, just at a slower or more moderate pace. It’s the simple law of supply and demand. When there are fewer items on the market than there are buyers, the competition for that item makes prices naturally rise.
And while the number of homes for sale today is expected to improve with more sellers getting ready to list their houses this winter, we’re certainly not out of the inventory woods yet. Thus, the projections show continued appreciation, but at a more moderate rate than we’ve seen over the past year.
Here’s a look at the latest 2022 expert forecasts on home price appreciation:
What’s the biggest takeaway from this graph? None of the significant experts are projecting depreciation in 2022. They’re all showing an increase in home prices next year.
What Does Buying a House Mean for Home Price Appreciation? And here’s what some of the industry’s experts say about how that will play out in the housing market next year:
Brad Hunter of Hunter Housing Economics explains Buying a House:
“. . . the recent unsustainable rate of home price appreciation will slow sharply. . . . home prices will not decline. . . but they will simply rise at a more sustainable pace.”
Essential Read from Danielle Hale from realtor.com agrees:
“Price growth is expected to move back toward a normal range, but this is on top of recent high prices, . . . So prices will [still] hit new highs. . . . The pace of price growth is going to slow notably . . . ”
While home price appreciation is expected to continue, it isn’t projected to be the record-breaking 18 to almost 20% increase the market saw over the past 12 months. Overall, it’s important to note that price increases won’t be as monumental as they were in 2021 – but they certainly won’t decline anytime soon.
What Does That Mean for You When Buying a House?
With motivated buyers in the market and so few homes available to purchase, the supply and demand imbalance will continue to put upward pressure on home prices in 2022. And when home price appreciation is in the forecast, that’s a clear indication your investment in homeownership is a sound one.
Know Your Housing Market Trends and Predictions by City When Buying a House
Every month we update the live 3-year live trends by city. Equally important is how long it takes homes to sell in your City and Price Range. You also have access to custom data for Sold Homes, so you don’t have to rely on Public Websites Estimates. Easy access and communication, call or text 248-343-2459. It’s essential if you’re Buying or Selling is to Know the Market You’re In and Your Negotiation Power
Bottom Line When Buying a House and Future Appreciation
It’s important to know that home prices are not projected to decline in the new year. Instead, they’re forecast to rise, just at a more moderate pace. Let’s connect to make sure you’re up to date on what’s happening with home price appreciation in our market so that you can make an informed decision about your next move.
Simplifying Real Estate Through Education
As we move forward, it’s been challenging as we navigated through all the changes. Putting your dream of a new home on HOLD shouldn’t be one of them. Now more than ever, knowledge will be your power. Know the Market You’re In and your Negotiation Power. Check out Categories for additional updates regarding the Market | Buying | Selling
If You Need To Sell 1st… I Recommend 🛑
STOP Doing This!
No 2 homes are alike, and agents need to 🛑 marketing ONE size fits all. We no longer have an exposure problem (internet). Your home is buried on public home search internet sites. The only way to compete on those platforms is the price. If you want more money, you need to apply Influence. Separate your home from the competition, so the Buyer sees value. Keeping them focused on your property and not getting lost in homes’ inaccurate data on public internet sites is necessary. Having digital omnipresence on serval platforms is your key to success. Remember MORE INFLUENCE = MORE 💰. We have details on how you can utilize High Tech Marketing and Win!
Peek into My Crystal Ball
This is the 3rd time I’ve been involved in a housing crisis in the real estate business. We will be watching for a shift as our economy and interest rates start bouncing back. There are 3 parts to making the most money on the sale of your property.
- Metro Detroit Housing Market Update ~ Live 3-year Market Trends.
- My Blueprint is Your 🔑 to 🏡 Buying & Selling Success~ Education is critical.
- Prepare a marketing plan that influences buyers.~ High Tech Digital Marketing
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