2022 Home Buying Trends

January 4, 2022


Home buying trends 2022

We find ourselves coming off an unbelievable year for home sales in 2021. Homes seemed to sell quicker than offers could be placed for them! It’s anyone’s guess if this unprecedented hot market continues into 2022. However, there are some indicators we can use to get a grip on what might happen in the housing market in the new year. So let’s take a look at a few 2022 Home Buying Trends.


Suburbs and rural areas are the places to be

If there is one thing the pandemic taught businesses, it’s that remote work is possible and it’s a cost-effective solution to labor needs. This translates well into the housing market. With this newfound freedom to work from home, many discovered they don’t have to live so close to their office. After all, your office is now a few steps down your hallway!


There’s also another reason homeowners are pulling up stakes and moving out into the less-populated areas. Relaxation! Eliminating your commute means you can focus on other amenities such as more acreage and getting away from the hustle and bustle of in-town living.


Millennials are ready to move

Some forty-five million millennials are just entering what is known as the homebuyer “sweet spot.” This means they have entered the age range of 26-35, which is historically the age bracket for many first-time home buyers. This is advantageous to sellers as there will be a large pool of home buyers.


Interest rates could be a challenge

With the current economic outlook in the United States, the one elephant in the room will be interest rates. The Federal Reserve in times of inflation, such as we are experiencing now, tends to raise interest rates to control the economy. This means borrowing money, including for mortgages, will also see interest rates increase. This will undoubtedly play a factor in how the housing market reacts and will be something to keep an eye on in 2022.


New home construction

If you are looking at building your dream home or buying a newly constructed home, you may be in luck. After seeing some unprecedented supply chain issues in 2021, things should settle down in 2022. The pandemic’s impact on labor was something many could not predict and it caused a headache for those in the construction business!

Primarily, the impact was felt when it came to securing building materials. At any one point in 2021, everything was hard to get a hold of from lumber for framing to windows, doors, siding, and shingles. However, with some return to normalcy ahead, construction should rebound in both the ability to complete projects and in supply costs.


If you are looking to buy or sell a home in 2022, I can help! Call me at 717-253-3259 (cellphone) or visit my website at www.karentavenner.com.