Market Update: November 2021

December 02, 2021, 1 min read

With the market as tight as it has been so far in 2021, it shouldn’t be any surprise to see median sale prices skyrocketing.

Mortgage rates will continue “stair-stepping” higher, but still ending 2022 below 4%.

Builders have been hamstrung with rising labor and material costs, which will lead new home sales this year to fall below the number seen in 2020; however new constructions will pick up significantly in 2022.

Demand for ownership housing remains remarkably buoyant. It is quite likely that demand may actually increase further as the work-from-home paradigm gains more momentum in 2022. It will be fascinating to see how this impacts not just demand, but where buyers will ultimately choose to live.

Home has never been more important than it is right now... Are you ready to sell or upgrade in 2022? Let's chat!