How the housing market could be shifting to favor buyers in 2022 | JUST THE FAQS

Could a more balanced housing market be around the corner? Here's what that means for homebuyers and sellers.

Homebuyers flooded the housing market in the first quarter of the year as they tried mightily to beat the expected mortgage rate hikes – resulting in one of the most competitive quarters since the onset of the pandemic. But there are signs that point to more favorable negotiating conditions for homebuyers in the months ahead, experts say.

Home prices rose by 21% in March from a year ago, the strongest March year-over-year increase on record, according to the S&P CoreLogic Case-Shiller Home Price Index, which developed the series almost three decades ago. About 7 in 10 homes sold for more than the asking price.

“Homebuyer frenzy reached another new high as eager buyers pursued last-ditch efforts to secure a home purchase before the mortgage rate surge,” says Selma Hepp, deputy chief economist for CoreLogic. The median existing single-family home price was $397,600 in April, up 14.8% from April 2021

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#Home #HousingMarket #JustTheFAQS

[De-Zay]

They say third times a charm, am officially a real Estate Broker🎉🎉 for all my repeat test takers don't give up and don't be discouraged.

[usa]

Dont blame pandemic blame FED printed to much money for wall street and bankers!!!

[profoundclarity]

And the millions and millions living pay to pay won't ever get to buy a house...

[arizonaunplugged-neilbrook]

Swapna, I’m looking at this Four months later after you taped it, and you were 100% spot on! Great forecasting!

[bigstickful]

Could be shifting? It is going to shift. People that bought when market was stupid are going to be upside down. Bank on it.

[marksgoogle]

Buyers need to stay away from housing for a while! Its going to get ugly

[YT_C]

Boycott housing for couple of years until prices come down to a more reasonable and affordable levels.

[hermanrogers]

Yep that’s right it will favor the buyer because they are going to pay way too much for the value of the property like a fool

[SirBallSoHard]

There will never be another housing crash, lending standards are to advanced these days. Correction yes, due to high rates but wont lower prices much. Buy real estate any chance you get, do not try to time the market. Owning is always better than renting!

[charlesyang]

from 10 offers/house to now 2 offfers/house ! Mortgage interest rate of 5% comparing with 9% inflation rate! It makes BIG money just live/own your own house !!

[kourtneyrice]

I keep on getting $380, 000 every week from a new trading platforms in town