2022 NoVA Housing Market Forecast: What Can We Expect?

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.

 

 

 

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