Economists are releasing predictions for the 2022 housing market and expect a consistent model, similar to 2021 to follow for the upcoming year. While the market isn’t expected to reach pre-pandemic levels, it is expected to level out with more inventory anticipated in the coming months, According to Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), “home prices will continue to rice but at a slower pace.”
With incremental progress on the job market (noting 18 million created jobs since the nation emerged from full lockdown), the implication is a steadying of the unemployment rate – in fact, the U.S. is experiencing an employment shortage – this could dictate a shifting market based upon remote work and affordability of housing.
Read more of Yun’s predictions here.
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