Kapasu Insurance Services Inc. Blog
Most likely, you or someone you know has purchased or sold a home in the past ten months. It doesn't matter whether you're moving across town or the nation. It’s all part of a record-breaking real estate boom.
The real estate boom is far from the end. Here are important home buying trends to know that will help you in 2022.
Factors Affecting the Trend
The Covid-19 epidemic has impacted every sector, but maybe none more so than real estate. Due to work and economic changes and cheap loan rates, numerous individuals purchased houses during the epidemic.
Additionally, this trend is expected to continue throughout the years.
Home Buying Trends To Consider
There are two important things to keep in mind for the 2022 Home Buying Trends:
Competitive Selling Pace
Homes aren't only selling; they're selling at an all-time high. In San Diego's competitive market, 55 percent of houses are off the market in less than two weeks, with an average of just 20 days on the market.
The fast pace is great for sellers, but it makes for a terrible experience for buyers. Potential purchasers are often outpriced in a competitive market or pushed to make rush decisions.
However, the record-breaking pace may begin to decrease somewhat in 2022. Houses were flying off the market as a result of a supply deficit and a surge in demand. You can expect the competitive seller's market to decrease, but not significantly.
Leaving Cities and Areas With High Taxes
People have been pushed out of cities due to remote working, which has increased home-buying in the suburbs. Suburban home sales have surpassed urban home purchases, and many buyers have increased their willingness to commute when they return to the workplace.
Suburban homebuyers are more likely to find desirable features, including larger houses, separate offices, outdoor space, and proximity to beaches, trails, and open space.
What will the state of the real estate market be like in 2022? In most cases, a continuation of 2021's tremendous development. Even amid a pandemic and a recession, houses will continue to sell at an astonishing speed.
At Kapasu Insurance Services Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (760) 995-3853. Get your free quote today by CLICKING HERE.
Old Town Victorville-Veteran's Memorial-Seventh St-Forrest Ave photo by Mlpearc | CC-BY-SA-3.0 | Website by InsuranceSplash