- Let’s talk about home prices rising this year.
- Sometimes there are things we can’t control, let’s talk about a few things that could effect the market.
- No matter the circumstances, we are here to help you with your real estate needs!
Newsletter Update – Family/Music News
I’ve had a very frustrating year of not playing music with actual other human beings (other than Becky, my wife 😀). So, when my buddy, Joel, called to say he was getting together a small group of buddies, all triple vaxed, to play some music outdoors, in his driveway, I decided to take the chance and join them.
Of course, WE HAD A BLAST! I have so missed this kind of thing. And with the oncoming wave of omicron I don’t know when I’ll venture out to try this again. But here’s a couple of unedited vids from that event. They are Facebook posts, so I hope you can see them:
Real Estate News – Home Prices Rising
I predict prices will continue to rise in 2022 but at a slower rate: from 5 to 10%, instead of the 15 to 20% rise we saw this year. We’ll see fewer multiple offers and, when we do, we’ll be seeing 2 to 4 multiple offers instead of the 6 to 20 we saw last summer. In other words, it’s still going to be a very hot seller’s market but, to keep it in perspective, you could say it’ll be about 150* hot instead of the ridiculous scorching 210* we saw last summer!
The big caveats to this are:
1) If interest rates go up (which is very likely), we will see an initial surge of buyers trying to buy before the rates go up further followed by a much longer term slow down.
2) Covid Close-Down. If omicron hits us hard, we’ll be forced to shut everything down again. Not only will this slow the economy down, it’ll put a further crimp in the supply chain, meaning it’ll take even longer to work that crimp out.
As always, we help people buy and sell homes no matter what the market conditions, getting them the best deal possible. If you are considering buying and/or selling in 2022, contact us now. We promise we’ll be able to help get you the best deal possible in 2022.
Thank you for your business and referrals in 2021! We look forward to helping everyone in 2022.
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Armand Lenchek, Broker, REALTOR
Coldwell Banker HPW
#1 Team in Chapel Hill, Durham, Hillsborough & Pittsboro
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