2022 COULD SEE ANOTHER HOME-BUYING FRENZY2022 COULD SEE ANOTHER HOME-BUYING FRENZY2022 COULD SEE ANOTHER HOME-BUYING FRENZY2022 COULD SEE ANOTHER HOME-BUYING FRENZY
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Idaho unemployment rate drops to 2.6%, among best in nation
January 11, 2022
Barry’s Buzz- February 2022
February 10, 2022
Published by Alyssa Haynes on January 11, 2022
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  • Industry Trends
  • Market Update
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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

 

More great articles below:

  • U-Haul Reveals Top 50 Growth States of 2021
  • Exclusive: Competition Will Be Fierce for Homes in 2022’s 10 Hottest Real Estate Markets
  • U.S. HOUSING AFFORDABILITY SLIPS IN Q4 2021
  • 2022 FORECAST: MODERATION LIKELY BUT AFFORDABILITY STILL A CONCERN
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Alyssa Haynes
Alyssa Haynes

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