2022 Real Estate Market Predictions 
 

• Home value appreciation will continue to rise amidst a supply and demand imbalance.
• Rising rents will outpace home price growth in 2022.
• First-time home buyers will continue to struggle amidst high prices.
• We expect the 30-year-fixed mortgage rates to slowly rise from around 3% to around 3.6 by the end of the year.
• Demand for housing in our local market will remain strong.

What Does This Mean for Buyers?

You should see your options grow as more homes are listed and some of the peak intensity of buyer competition starts to ease. Just remember, rising rates and prices are a great motivator for you to find the home of your dreams sooner rather than later so you can buy while today’s affordability is still in your favor.

What Does This Mean for Sellers?

Make no mistake – this sellers’ market will remain in 2022 as home prices are projected to continue climbing, just at a more moderate pace. Selling your house while buyer demand is so high will truly put you in the driver’s seat. But don’t wait too long. With more listings projected to become available, your ideal window of opportunity to stand out from the crowd won’t last forever. It's important to work with an agent who knows your local market and current inventory conditions to ensure you have the support you need to make an educated and informed decision about selling in the coming year.

Bottom Line

While it's good to be informed about what the real estate market is doing, we believe it's most important to focus on your personal goals first instead of trying to time the market.

Give us a call today at (208) 501-8200 or email us at info@westrealestategroup.com.

You can also schedule an appointment by clicking here. 

At Your Service, 

"John's experience helped us navigate the crazy Boise real estate market with ease.  

We were lucky enough to get work with John, Derek and the team at West Real Estate Group while we were both selling our old home on the Boise Bench and purchasing our new home in North Boise. The team method they have is incredible and ensures that through the trying process of real estate buying/selling we were never left out or felt unsure of our choices. There were weekly check-ins to ensure everyone was on the same page, positive attitudes, and a very realistic knowledge of the market and honesty with us as customers.

-Megan Alton

What do you think about our NEW logo?

This past fall West Real Estate Group celebrated its 10th anniversary of being in business which has been a true testament to perseverance, dedication, and good old fashion hard work. Did you know that 65% of businesses fail within the first 10 years? That's a pretty staggering statistic!

With this milestone moment, we felt it was the opportune time to give our branding and logo a makeover and to take the business from John's "baby" to John and Victoria's "baby." Transitioning the business from one owner to co-owners has certainly had its ups and downs, especially since the co-owners are husband and wife, but we know that working together on a common goal will help us to achieve unsurmountable success.  We are working harder than ever to provide our clients, our community, and our team members with tremendous value and service. 

We care so much for our clients and those that we get the opportunity to interact with on a daily basis! We believe what sets us apart from our competition is our family-style team and our desire to serve with the heart of a teacher. We want what's best for our clients and work tirelessly to provide that for them. 

This next year we would love your help... We have a lofty goal of serving 200 families with their real estate needs and who better should we align ourselves with but the clients and friends that we already have a relationship with. We owe so much of our success to you who have trusted us, and do not take that trust lightly, so from the bottom of our hearts, THANK YOU! 

If you or someone you know is in search of a new home or is interested in learning how they would go about selling their home, would you please pass our info along to them? 

We would greatly appreciate it. 

Give us a call today at (208) 501-8200 or email us at info@westrealestategroup.com.

You can also schedule an appointment by clicking here. 

Sending you and yours the warmest wishes this Holiday Season!

Sincerely, 

John and Victoria West

"It's the heart of a teacher, communication, and genuine concern for their clients that make them stand out.

John and his team will take the time to find the right home for you. They are not interested in selling you a building but in helping you find a home.  They also have an excellent system to sell your home.

Beyond that, it’s the heart of a teacher, communication, and genuine concern for their clients that make them stand out. In today’s market, you have many choices, but none as committed, dependable, and dedicated as this team. We appreciate all they have done for us, it is truly a different experience." 

-Aric McCullough

We’re starting to see a slight shift in the Boise home market. While homes still sold for near record highs for the last few months, we haven’t seen the same month-over-month price jumps. Properties aren’t flying off the market quite as fast as they were this Spring and Summer.  

What does this mean if you’re trying to buy a home? October marked the 7th consecutive month of increased inventory. Although we are still in a sellers market, price reductions and/or contingencies are becoming more commonplace. This shift in the market is allowing buyers more time to make decisions, as they typically do not need to compete against multiple cash offers and pay thousands over list price to get into a home. This window of opportunity enables buyers to have more options and to take advantage of historically low interest rates before they increase.

What does this mean if you’re trying to sell a home? Median sales prices of single-family homes in the area have increased an average of 35.5% year-over-year. Although sellers have had a great run at increasing prices, we are now starting to see a teeter totter effect in median home sale averages. If you’ve wanted to cash in on all the equity you’ve accumulated now would be a great time to do so. The demand is still strong so if you are trying to sell to buy, the timing could not be better. As spring rounds the corner inventory will likely rise as will the competition in the marketplace.

We're sure you have questions. We're here to help. Our experienced agents are ready to help you through the real estate buying and selling process. Give us a call today at (208) 501-8200 or email us at info@westrealestategroup.com.

You can also schedule an appointment with us by clicking here. We're thrilled to help you find the home that's right for you.

Sincerely, 

West Real Estate Group

"We found West Real Estate Group through Ramsey Solutions Endorsed Local Provider (ELP) list.

Almost immediately we received a call from John West who took time to meet and get to know us BEFORE asking for what our real estate needs were - very refreshing! We then worked closely with Derek to find the right house. Being first-time home-buyers, working with Derek has been amazing; he was always finding ways to educate us along the way. And the happily ever after? Well, we found our first home! We highly recommend West Real Estate Group. They truly have a heart for educating and advocating for their buyers." 

-Elizabeth Codde

We wanted to take a moment to thank you for reading our newsletter and supporting us. We're truly grateful for our community. Your referrals, trust, and confidence in us are everything. We run this business with our whole hearts and we're so appreciative of you!

We hope you have an amazing Thanksgiving!

Sincerely, 

Victoria & John West and the West Real Estate Group Team