Stats and predictions for where our real estate market is heading.

We recently received updated data for December, so today I’ll share a few stats and talk about what we predict will happen in our market in 2022. In December, our total active inventory was 2,586 units. Comparatively, in 2020 we had 4,875. We’re in a severe inventory shortage; sellers are still getting multiple offers, and people are paying above asking price and waiving appraisals.

Many people are asking whether the market is going to crash. I don't foresee a repeat of 2007 because back then, speculative buyers were buying multiple homes just to flip them months later but couldn’t afford them. There was also a lot of predatory lending at the time. That is not what we're seeing these days. 

In 2022, we have a lot of cash buyers, and buyers are putting down 20% to 50%. For the market to start cooling down, we would need more inventory or less demand. 

If you have any further questions, we'd love to talk to you, so give us a call.