FYI
https://www.amny.com/news/new-report...rk-metro-area/
We are coming to the end of 2021 and there is still a question from interested buyers: will they have better luck in 2022 to buy themselves a new home?
According to Realtor.com’s 2022 Housing outlook, a whirlwind year is ahead for buyers across the biggest U.S. markets – and the New York metro area is no exception.
Overall around the US local home prices are expected to rise by 2.3% in 2022 over a recent median of $619,000. Housing affordability will be a growing consideration. While buyers who act quickly may have a better chance to find a home in their budget, with inventory expected to recover from COVID-19 lows, home sales in the New York-Newark-Jersey City area are forecasted to drop 3% in 2022.
According to Realtor.com, 2022 will become a very competitive year because home sales hit a 16-year high and trends like workplace flexibility enable more homebuyer success. The recovery will also begin from recent declines caused by COVID-19, as stated for-sale home supply is up by 0.3%, and affordability would become more complex with regard to the fact that mortgage rates climbed to 3.6%, listing prices rose to new record-highs such as 2.9% — rents surge rose by 7.1%, while incomes increased by 3.3%.
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