Looking to move this year? Before you run headfirst into the housing market in 2022, make sure you’ve done adequate research as to not only what homes and neighborhoods are right for you, but also whether or not the market at large is the ideal environment for you to buy or rent in right now. So what are the 2022 housing market and moving trends projected to bring?
In the coming year, forecasters predict that the volatile markets of 2020 and 2021 will even themselves out a bit in the new year due to sellers and buyers alike adapting more to the ‘new normal’ that COVID-19 has brought upon us, and that the market will be a bit more stable in the coming year. Let’s explore the possibilities the 2022 housing market and current moving trends bring.
Since 2020 saw the beginning of the pandemic that would change life as we know it, the housing market would also become profoundly impacted in ways nobody could predict. From remote work to people exiting cities in favor of the countryside, COVID-19 has not only changed how we work, but how we live.
Since the pandemic initially hit, many businesses and offices have chosen to make their temporary work-from-home arrangements permanent, and with that came a lot of freedom given to employees. For the first time, many across the country (and across the world!) found themselves no longer tethered to a commute, or to a central location around their office or job’s headquarters.
What did this mean for the 2020 and 2021 housing markets? Well, as the pandemic brought about already-volatile conditions, the country saw unprecedented amounts of people moving to places more affordable and more suited to them, instead of staying in proximity to their jobs.
Due to the nature of COVID-19, people who were able to also exited densely populated areas (especially cities) in droves, in favor of the suburbs and more spread-out areas. Between the want to get away from tons of people, plus work-from-home arrangements, the housing market and what was generally in demand for buyers changed in a big way.
However, despite people moving a lot over 2020 and 2021, there was a surprisingly low inventory of homes up for sale during these last couple of years. Due to demand and lack of supply, housing prices also grew in many areas, which created a ‘seller’s market’.
Though housing prices aren’t expected to drop drastically in any way in 2022, more houses are being put on the market, which creates more variety in the market, and lowers competition for homes. Though it may not happen this year, the market is headed in a more buyer-friendly direction.
If you’re looking to buy or rent a home in 2022, it’s imperative to not only find the home in your ideal neighborhood that’s right for you and your family, but that you make sure it’s the right time for you to buy (and that the market is suited to what you’re looking for!). If you’re sure of yourself and your decision, look no further than Morse Moving & Storage to have all of your Michigan, Indiana, and Ohion moving needs taken care of.
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