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Housing Trends to Know About in 2022

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If you’re hoping to buy or sell a home in 2022, it’s beneficial to know what the forecast looks like for the housing market. Read on to find out what’s changing in 2022, what’s staying the same, and what it means for both buyers and sellers.

Real Estate Market Expectations

 1. The market is expected to remain competitive in 2022. The rate at which people are buying homes shows no sign of slowing down, which means this year will continue to be a seller’s market, complete with bidding wars.

2. Fannie Mae is predicting home appreciation of over 7% in 2022. So, while you may be in a bidding war while buying, you may also make a percentage of that back through the equity on your new home!

3. Availability will remain an issue in 2022. Due to an increase in millennial buyers, as well as low interest rates and people moving out of the city for more space to accommodate remote working and learning, there has been a surge in home sales. Coupling this surge with the supply chain issues that had halted the build of new homes, the number of available homes is less than we would normally see.

4. Speaking of new builds, there is expected to be a slight increase of 5% in new construction as home builders are able to get back to work. As supplies become more readily available, construction can pick up, helping the overall inventory of homes.

As a potential home buyer, you have plenty of options that can give you a leg up during the home buying process. Here’s a few:

Resources for Home Buyers

1. Home Buyer Edge

This program, exclusive to Churchill, wraps around the buyer to make your offer as attractive as possible to sellers. Here’s what it has to offer:

  • Lightning-fast Pre-approval
  • Home Buyer Consultation
  • Certified Home Buyer and Rate Secured (keep reading to learn more)
  • A Trusted Advocate
  • $5,000 Seller Guarantee
  • Close Faster and with Less Stress

2. Churchill Certified Home Buyer

Certified Home Buyer positions you almost like a cash buyer, helping you stand out from the crowd. Better than a pre-qualification or even our lightning-fast pre-approval, it shows sellers that you mean business and gives you the best chance of having your offer accepted.

3. Rate Secured

This is another way to help yourself when trying to buy a home in a tight inventory housing market. This unique benefit from Churchill allows you to cap your interest rate for 90 days while you look for a home. The best part? If you don’t find a home in the first 90 days, you can reset your rate for another 90-day term.

Forecasting Interest Rates for 2022

Having resources to turn to is always beneficial, especially because mortgage rates are expected to increase in 2022. We realize for a potential home buyer, that can be daunting to read, but it doesn’t have to be. The rates of 2020 and 2021 were historically low and unprecedented. Rates in 2022 have risen, but still remain historically low.

Under all this market forecasting lies one big question: What will home prices be like this year? Both listing and sale prices are set to increase, though not nearly at the rate they have been. With prices increasing 18% this past year, we should expect a much more moderate rise of around 5-6%.

This is great news for sellers hoping to make the most they can off the sale of their home, and it can be good news for home buyers, as well. If you have a budget, a plan, and are working with a trusted Home Loan Specialist, an increase in price or interest rate doesn’t have to set back your goal of becoming a homeowner.

The team at Churchill Mortgage wants to see you achieve your dream of buying a home in 2022. We’re committed to finding you the smartest mortgage plan possible and setting your home loan up to work with your unique goals.

If you have questions about the housing market, or just want to see what your options are, we’re ready to help. Let's get started!

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