Can you believe we’re already more than a month into 2022? And what a year we believe it’s going to be! Thus far, there are certain new trends that we are starting to see in the housing market. So, at Raleigh Cary Realty, we expect to see additional ones. This blog is about that very topic.
To begin, experts believe that inventory will remain scarce (especially here in the Triangle, North Carolina area
). That means it will continue to be a seller’s market in 2022.
One note to keep in mind is that mortgage rates will probably rise in 2022. The Fed recently announced a rate hike to take effect in March. While record-low mortgage rates were part of the housing craze spur in 2020, that doesn’t mean higher rates will necessary cause a slowdown. In the 1980s, when rates were in the teens, people still bought homes. Even during the housing bubble that started in 2004, rates were higher than they are expected to be in 2022.
On a separate note, here are some trends to homes that we are seeing that are helping with making homes more attractive to prospective buyers. Many of these trends are a direct result of changes that took place when the coronavirus pandemic started.
Trends like that include private work from home spaces. As more companies and employees look to stay remote, workers are looking for private office spaces in their homes. If your home can be seen as a place where one or more adults have a functional workplace, it will definitely add to your home’s value.
Backyard improvements are also a trend we expect to see in 2022. Families are looking for ways to entertain at home more often—whether that’s on a screened-in patio, around a fire pit, under a gazebo, or in a garden, it’s very appealing to offer that.
Speaking of gardens, vertical and layered gardens are a new trend along with other ways to improve the aesthetics of a backyard. It’s almost as if back-fence appeal is just as important as curbside. For more trends or to list your home for sale, contact us at Raleigh Cary Realty. As your local realtors, we know your hometown market better than anyone.
