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2022 Real Estate Market Predictions 
 

As we move into 2022, both buyers and sellers are asking me, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? 

While I don't have a crystal ball to know exactly what will happen, we track the market closely both on a national level as well as on a local level, and here are some strong predictions of what we can expect: 
  • 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 West, Real Estate Consultant & Associate Broker at West Real Estate
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"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

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We embraced all the snow that fell during the month of December up at the West Mountain Retreat. From cutting our own Christmas tree in the Boise National Forest, to taking the girls to soak at The Springs, to sledding and warming up next to the fire. We feel so blessed to live in such an amazing place with four complete seasons. During the winter the days are shorter, allowing us to get more rest, and the snow covered landscape of the Idaho mountains brings with it a peaceful silence and beauty.

We hope that you and your family are taking advantage of this season, getting some much needed rest and looking forward to all that 2022 has in store.

- John & Victoria West
 
The West Real Estate Group Team
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From top left: CJ WestwoodDaniel WestNicole BrusheyDerek CasselChandra LopezAlex Zayshlyy From bottom left: Marena CrouchVictoria WestJohn WestNelja Westwood