2022 COULD SEE ANOTHER HOME-BUYING FRENZY

The winter market is heating up as buyers keep a watchful eye on interest rates— expected to rise over the next year—despite a continuing inventory shortage keeping prices and competition high. According to realtor.com®’s recent Monthly Housing Report, December saw a bump in listing price growth, with the annual pace expected to return to last year’s spring and summer levels.

Key findings:

• The U.S. median home listing price was $375,000 in December—with the annual growth pace up 10%.
• Home prices for a typical 2,000-square-foot, single-family home increased 18.6% YoY.
• The annual pace of home-price growth was lower in the 50 largest metros (+5.4%), on average.
• The Southern (+10.1%) and Western (+8.3%) regions posted the biggest annual increases, while prices were flat in the Northeast (+0.7%) and declined in the Midwest (-2.8%) in December.
• More than one-quarter (13) of large markets posted double-digit, yearly home-price increases—up by more than 20% in Las Vegas, Austin, Tampa and Orlando.
• Properties sold in a median of 54 days in December.
• Days on market was lower in the 50 largest U.S. metros, at an average of 48 days in December, but posted a smaller yearly decline (-7 days).
• The South (-9 days) saw December’s fastest home sales compared to last year…. Read more

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