Market Report: JUNE 2022
Demand for our area remains high, but we are seeing a deceleration in the housing market.
The news can be daunting but I follow some of the leading experts in economics, banking and real estate and the market shift is not as scary as the news makes it out to be. Here is what you need to know.
Despite rising prices, homes are not moving as fast!
The last two years in real estate have been record breaking! Record low mortgage rates and millennials as our next buyers peaked the homebuying influx causing buyer demand. And at the same time, there weren’t enough homes available to purchase thanks to many years of UNDERBUILDING and sellers who held off on listing homes due to the health crisis.
Buyers are still searching, and the competition is still very much alive.
This combination of record-high demand and record-low supply,and that it wasn’t going to be sustainable, the latest data shows a market shift to PRE-pandemic- not a crash nor a correction–
We are at a turning point….headed back to how things were before the pandemic.
If you’re thinking about buying or selling in the next 12 months, now is the time to get a plan in place. I understand the financial and logistical complexity of a move. We sold our home with twin toddlers, so I know firsthand how important it is to have a trusted partner to help manage the details while you stay focused on keeping your daily life on the rails. That’s why I’ve made it my mission to provide my clients with the knowledge and tools needed to prepare themselves for this transition. And thanks to a proven process that works, I’ve had the pleasure of helping 100’s of clients over the past 16 years to get the results they deserve so that they can move on to their next chapter with ease.
Real Estate Market Highlights: JUNE
|2021 YTD||2022 YTD||2021 vs.
|Average Sales Price||$397K||$534K||34%||Last years appreciation : 18%
Current appreciation: 8-10%
A normal market is: 3.5%
|New Listings||435||496||3.14%||Lowest in home Inventory since 1999.|
|Price Per Sq. Foot||$172||$223||30.4%||Some homes have sold as high as $265 sq. foot.|
SimpliHOM Realty OFFICE: 855-856-9466 Website: AmberCarlson.Com Lic#306652