Wrapping up 2022

Wrapping up 2022

Looking back on the changes in 2022 and forward to expectations for 2023.

Happy New Year! I hope you’ve had a great holiday season and are ready for another great year. 2022 brought us a lot of interesting times in the real estate industry. At the start of the year, we saw most houses get multiple bids that were crazily high, and buyers were getting great interest rates. 

Then, around May or June, interest rates started going up, and the market started cooling off. It was great that houses were holding their values, not going up as much as they were at the beginning of the year, and not crashing down.

"2022 brought us a lot of interesting times in the real estate industry."

 

Today’s buyers have to stomach slightly higher interest rates, but they're also able to shop around for a house and have the sellers contribute to closing costs. Overall, I would say buying a house now is just a little bit more pleasant than it was in the spring when everything was so crazy and competitive. 

If you’re thinking about listing your house this coming spring, reach out sooner rather than later because not every house is selling like it was this past year. This spring, houses will need to be a little more turnkey, in good condition, and ready to go. If you're thinking about selling, reach out soon, and we can make a game plan together. 

The team and I want to wish everybody a Happy New Year—we hope it's a great one! If you have any real estate questions, don’t hesitate to call or email me. I look forward to keeping in touch with you and working with you.


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