2022 Housing Market PREDICTIONS
The 2022 Housing Market will see prices go down across half the country.
Big macro trends like higher inflation, higher interest rates, a surge in home building, and a wave of foreclosures will leave their mark on 2022 Home Prices.
2022 Housing Market PREDICTIONS
HOME BUILDING SURGE: expect 1.5 million housing units completed in 2022 based on the huge surge in Housing Starts that occurred in 2021. This will bring much needed inventory to the market.
FORECLOSURE WAVE: data from Black Knight suggests there could be as many as 1 Million backlogged foreclosures heading into 2022. Now that the Consumer Financial Protection Bureau’s Foreclosure Ban has expired, it will be open season for banks to foreclosure on delinquent borrowers.
FLORIDA IS NUMEBR ONE: Florida will be America’s strongest Housing Market in 2022, registering potentially 10% price growth over the next 12 months. Florida’s super low inventory levels and strong migration will keep it afloat for another year. But WATCH OUT in 2023. Prices could be heading down.
MIGRATION SHIFT: Growth hubs like Austin, Salt Lake City, Denver, and Boise dominated over the last five years. However, their reign is now over. Heading into 2022 these markets are too expensive and will begin losing people, pushing home prices down. Want to find 7 CITIES that will take their place?
MORTGAGE RATES UP: Interest and Mortgage Rates will go up significantly in 2022, constraining affordability and pushing home prices down in certain markets. Expect the 30-Year Fixed Mortgage Rate to hit 4.0% by Year End. This will push mortgage payments up by over 10% at today’s prices.
INFLATION RUNS HOT: Inflation will moderate slightly, but continue running hot in 2022 at 5%. This higher level of inflation will actually hurt the housing market, as more home buyers delay or cancel their plans to buy due to inflation.
Coast Housing Markets where affordability is already significant constrained. Think San Francisco, Seattle, Denver, Salt Lake City, and Austin. Higher rates and lower inflation-adjusted incomes will crash prices in these cities first.
TECH BUST 2.0: Higher rates will also hasten a collapse in America’s tech industry, similar to the DotCom Bubble that burst in the early 2000s. Expect Tech Hubs like San Francisco, Boston, and Austin to lose a significant amount of jobs and their local housing markets to be negatively impacted as a result.
IDAHO IS THE WORST: The worst-performing Housing Market in 2022 will be in Idaho, where inventory is already up a massive 62% YoY. Prices in Idaho could decline by as much as 15% through the year, especially in Boise.
HOME PRICES FLAT ON AVERAGE: Home prices in America will register no growth on average, but will decline heavily in certain cities while still appreciating in others. Expect the Southeast US, including Florida, Georgia, and South Carolina, to continue performing well.
2022 Housing Market PREDICTIONS
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Sure as a real estate professional in San Diego California, you most probably have a website. But take a look at it take a look at the traffic you’re generating from that website. From my own analysis the majority of San Diego real estate websites just generate a couple of hundred unique views per month. To even have a chance of gaining one new client you need tens of thousands of unique views.
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Just like most major businesses, the easiest way, and the fastest way to expand your business and influence in your particular market is through strategic acquisition. Just look at Google, they are the number one search engine in the world! Google bought Youtube in November 2006 for US$1.65 billion! YouTube now operates as one of Google’s subsidiaries.
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What’s the approximately monthly cost to host a website? With shared hosting, you’re hosting fee can break down to about 10 to $15 per month. To keep your url registered (that’s your site address), this is usually paid on a five to 10-year basis, which averages out to about just a dollar per month! Naturally, if you add direct hook-up to a MLS database, that provides lead capturing, this costs can vary greatly from provider-to-provider.
Interested, call Bob Schwartz (619) 286-5604 for additional information
