Supply and demand have always dictated the pricing of goods, including homes. You’re wondering about this ever changing market we are currently in, how will home prices be affected in the coming months? Will we go back to a market more like before 2020?
Hi, I’m Sherri Echols, Broker Associate with RE/MAX Bryan – College Station. Let’s take a look at what experts are saying about the future of the market.
Let’s start with demand. This graph clearly shows a downward trend back to what we saw before 2020 (Slide 13). You can see that with all the changes that 2020 and 2021 brought, from interest rates to us viewing where we can live differently, it caused a major increase in demand for housing.
Now in 2022, we are seeing demand and prices begin to drop. We also know that lower interest rates drove
people into the housing market, and rising rates are now driving many back out.
Showingtime is also showing a decline in demand (Slide 12), and it does not even show the most recent months which have even lower numbers.
Overall, experts are definitely showing a market shift in 2022
back to the kind of market we saw prior to 2020. Stay tuned for more information about the future of the real estate market. I’m here to keep you informed!
I’m your Community Market Leader Sherri Echols, a helping hand for a happy home.
