Outlook for Housing 2022
Housing was one of the strongest sectors of the economy for 2021 but rising interest rates and inflation are causing many to wonder if sales will continue as strong in 2022. So, should you buy a home or wait it out?
Lawrence Yun, chief economist for the National Association of REALTORS, believes the number of home sales will decline in 2022 but will still outpace pre-pandemic levels, based on continuing demand from homebuyers. More inventory is becoming available from home builders and from homeowners who will no longer receive loan forbearance and may decide to sell their homes instead.