2021 was a year that will go down in infamy in regards to the real estate market. Tight inventory levels, historically low interest rates and increased buyer demand influenced by pandemic lifestyle shifts made for an eventful year! 2021 price appreciation is on top of the strong price growth we also saw in 2020. Seller equity is undeniable as homeowners are sitting on top of a wave of appreciation that has been mounting since 2012! Wherever you sit in this decade of price growth, if you are considering selling, you will enjoy phenomenal returns. As for buyers, they are securing homes with low debt service which has helped offset the affordability of housing prices.
We anticipate 2022 being another fruitful year for the real estate market, but expect price appreciation to temper as interest rates slowly creep up. Look to me to continue to help keep you updated as the year progresses. It is always my goal to help keep my clients well informed and empower strong decisions.