North Metro Atlanta is predicted to remain Red Hot in 2022, including Marietta, Woodstock, Canton, Roswell, Alpharetta, Jasper, Kennesaw, Ball Ground, Acworth, and many other local communities.
Sellers will continue to have a market advantage in 2022 because of fundamental supply and demand mechanisms.
Selling your home will seem easy on the surface, but accomplishing your priorities during the process may be overwhelming due to the amount of activity you will receive once listed.
“Having a Strategic Guide representing your interests will help you optimize money, time, convenience, and certainty of closing in 2022,” says Brad Nix, COO/Owner of Path & Post.
Buying a home will seem overwhelming, but the math says buying sooner than later will be a smart choice. Waiting to buy means missing out on the benefit of values rising, which will end up costing you more.
“Buyers will need a team of support that includes a professional guide armed with custom strategies to help you win in a competitive bidding environment in 2022,” says Becky Babcock, CEO/Owner of Path & Post.
Real Estate Supply
Inventory begins 2022 at a new record low, down 27% from the same time last year. New listings continue to hit the market at about the same pace as last year.
Real Estate Demand
Immediate sales continue to surge, confirming that buyer demand remains strong as we begin 2022. These sales happen within hours or days of new listings hitting the market.
Home Prices
As we forecast 2022 home prices, all the leading indicators show tight inventory and strong demand keeping prices high and appreciating quickly – a strong seller’s market. Zillow predicts 11%+ price growth for 2022.
Mortgage Rates
If interest rates start rising due to the Fed adjusting to slow inflation or managing other economic challenges, this could have a cooling effect on the market. However, demographics and desire for a home could create even greater demand as buyers maneuver to get into a home before rates increase over the long term. These variables aren’t in the data yet, but they’re looming. We’ll keep watching the data closely to spot any major shifts.
James Royal, Senior Wealth Management Reporter at Bankrate, says: “A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”
Inflation
Covid-19 has shaken supply chains as consumers push forward with solid demand and businesses have been raising prices for goods and services as they also deal with a shortage of workers. We expect inflation to continue to be an issue in 2022, but we will watch for the Fed to adjust policy as they try to manage this ‘transitory’ issue.
Ali Wolf, Chief Economist at Zonda, explains: “If you have cash and are expecting inflation, you want to think through where you can put your money so it does not lose value. Housing is commonly looked at as a good inflation hedge, especially with interest rates so low.”
Demographics
Even before the pandemic, many experts expected millennials to have a big influence on the housing market as more than 72 million were in their 40s, the prime age to buy a home – creating a millennial wave of home buyers. Covid-19 and work from home caused many to speed up their desire to own their home instead of rent. The large number of people in the millennial wave will continue to drive demand for years to come.
Path & Post believes everyone deserves a Strategic Guide along the journey
Path & Post Real Estate concluded 2021 with over 380+ transactions and is in a position to finish among the top agent teams in the country again. To continue providing elite service, Path & Post has hired an internal Agent Success Coach to ensure you get a well-trained Strategic Guide along with a 5-Star Service standard for your next life transition.
