Boots on The Ground Real Estate Forecast in Michigan
Updated: Jul 15, 2022
My news feed is choked with real estate and economic news including lots of pricing forecasts, supply demand, economic info, etc. Want to know what I really believe?
What’s that I hear? My phone?!
My phone has been ringing off the hook this week. Know why?
People want to sell! Because they have gotten a new job and need to move. More than any other year, and with more coordination, folks are getting offers to move up the employment ladder. I expect inventory to increase even more than it already has with some good looking stuff starting December 1, 2021 and continue through the year end. If you want to sell, it is a good time to do so for many reasons. If you want to buy and are ready, you’ll be able to get something nice before the rest of the market wakes up in the spring.
So what’s the longer view?
Everyone has an opinion on home price growth. Check these from 1.9% to 16% projections in 2022 depending on who you believe: Motley Fool: https://www.fool.com/investing/2021/11/16/are-real-estate-prices-going-up-in-2022/
Fortune Mag: https://fortune.com/2021/11/18/zillow-changes-2022-real-estate-outlook-what-to-expect-from-home-prices-next-year/
Mortgage Rate Forecast: It’s gonna be pretty flat and may dip ever so slightly in the coming months - but don’t wait, the dip will not be significant.
Supporting evidence of a strengthening economy to come: Jobs are steady and growing, Low mortgage rates, demographic trends, and a new infrastructure bill. After buyers rested a bit at the end of 2021 and saved, Quarters 2,3,and 4 in 2022 should be strong.
We've got our boots on! Are you ready for a rockin '2022? We are :)
No matter if you are buying or selling we can help! We believe that Real Estate is all about You! Your lifestyle, Your family, Your investment, Your goals! We help you get it right, when the time is right for you!
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- Paul and Julie
Direct Phone: (810) - 923 - 4443