What can we expect in 2022? Lisa Sturtevant, PhD, Chief Economist and Virginia REALTOR® shares her expertise and knowledge. on the Northern Virginia real estate market in 2022.
What we know: Unemployment is down, there are rising wages for many, and a modest increase in mortgage rates and a drop in inflation is projected. However, home prices are rising faster than incomes and available inventory remains very low.
Biggest Challenges: Affordability will be the biggest challenge in 2022, with buyers in many markets priced out as inventory will continue to be very tight.
What We Project: Economic and demographic factors will support strong housing market conditions, outweighing potential challenges in the market.
Considering buying or selling your home? Contact us to join the many clients whose expectations were surpassed by the dedication and professionalism of The Magnificent Manors Team of KW Metro Center. Our strategies are unique to each client’s purchase, yet the objective is always the same – protect our client’s interest, minimize the risk, and win the contract. Despite the current challenging real estate market, we’ve been able to help all of our sellers and buyers meet their real estate goals. Contact us and we can help you, too.
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