We just wrapped up one of the wildest 6 months of real estate I can remember. Prices started out on FIRE, interest rates nearly doubled, and the market cooled off. Curious what might happen in the future? Here are my predictions for the rest of 2022.
Inventory Increases – Not because more people are selling their homes. The increase will mostly be because homes are sitting on the market a little longer.
Interest Rates Have Peaked – Interest rates have likely reached their peaks. They have already come down over 1% from the highs. I believe rates will stay relatively low despite the Fed’s commitment to raise interest rates. Remember, the Fed does not control mortgage rats.
Prices Will Fall – Prices likely peaked sometime in April or May and have fallen since then. There is likely more pressure as we go into the traditionally slower months of the year.