Lifestyle adaptations as a result of omicron mean more time at home, which means an active home sales market this spring.
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We all thought we had this figured out prior to the new variant. This was the industry banter as we concluded 2021:
- Interest rates will trend upward throughout 2022.
- Low inventory in all market price ranges will continue to be an issue.
- The popularity of the high-end market will be active at a healthy moderate level.
- Annual 2022 appreciation of about 5.8% from the 2021 high of 28-31%.
But as we adjust to the new “unknown” new….
- Interest rates maintain low levels throughout the first 6 months of 2022. Banks compete for client loyalty and rates are the hook.
- The high end of the market rapidly jumps in price and sales velocity. We will see sales prices beyond our comprehension!
- Annual appreciation will continue to move at rates of 18-24%.
- Room of the year 2021 – The home office!
- Room of the year 2022 – The kitchen!
Bottom line:
As the new COVID variant pulls back on our social lives, we will experience more time and comfort at home … That equates to a very active Winter – Spring for home sales!
Visit www.grubbco.com to learn more.