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Buyers can expect tight competitors for homes to continue into the brand-new year. Justin Sullivan/Getty Images The last 22 months have been some of the wildest in property history, as the COVID-19 pandemic sped up the speed and strength of current trends. House rates surged to record-breaking highs. Rates of interest dropped to historic lows.

On top of that, almost every contemporary macro-economic pattern-- from inflation to supply chain problems to labor scarcities-- made an appearance in the 2021 real estate market, increasing the advantages of existing homeowners, intimidating potential property buyers and, ultimately, further broadening wealth inequality in the US.Though nobody can anticipate what the next year will bring, we've asked some industry specialists to assist us check out the tea leaves.

As such, the 2022 real estate market will present challenges for brand-new buyers aiming to get a grip. For those seeking to offer, will continue to simplify and simplify real estate deals. And existing homeowners will likely have another year to through refinancing--. Specialists also anticipate an extension of 2 significant 2021 trends: low housing inventory and supply chain concerns, both of which will continue to hamstring building and restorations.

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"For a homebuyer, 2022 is going to need persistence and strategy," stated Robert Dietz, primary economic expert the National Association of House Builders. "If you think you're going to wait on the sidelines for the market to cool off, that generally does not work," warns Karan Kaul, senior research associate at the Urban Institute.

Housing market 2022: Where real estate prices are heading as told by 7  forecast models - Fortune

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With the caution that political and virological advancements can wreak havoc on this unforeseeable corner of the economy, here are some of the major aspects professionals see affecting the real estate market in 2022. Still smoking: House rates continue to rise, If you already own a home, you're more than most likely to be in a lucky position.

Maryland REALTORS > Resources > Publications > Monthly Housing Statistics

Combined with traditionally low rate of interest, a record-breaking number of property owners were able to in 2020. As home worths rose during the first year of the pandemic, levels were at their highest because the 2007 monetary crisis. Of  Find Out More Here , this develops a much more tight spot for potential property buyers. Which's unlikely to alter much in 2022.