Experts are projecting that 2022 home sales to be near or slightly above 2021 levels.
As we continue to come out of the pandemic, many sellers are looking to cash in on a hot market before it cools off. Other factors expected to continue include the need to trade up or people in the later stages of their life looking to trade down into a more practical home.
While we have seen some cooling trends in terms of multiple offers and annual year-over-year price increases leveling off, most experts project a modest increase in prices this next year driven by continued buyer demand, low inventory levels, and modest interest rate increases (still near record lows historically).
Below are the sales forecast for the balance of 2021 and expected for 2022 (2020 saw 6.5 million homes sold):
- Fannie Mae – 6.7M in 2021, 6.6M in 2022
- Freddie Mac – 6.8M in 2021, 6.8M in 2022
- National Association of Realtors (NAR) – 6.8M in 2021, 6.8M in 2022
- Mortgage Bankers Association (MBA) – 6.9M in 2021, 7.5M in 2022
For more local stats, please feel free to call, text, or email Ben at 949-749-5828 or fill out our contact form.
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