4 Reasons why the Housing Market Looks Promising in 2022
1️⃣ No housing crash in the coming months
Some have speculated that astronomical home price growth has set us up for a drop similar to 2008/09. But ongoing low mortgage rates, high demand & regulations around subprime lending should keep that from happening.
2️⃣ Manageable mortgage rate hikes
While mortgage rates will come off record-low levels, the hikes won't be large enough to put buyers off.
3️⃣ Help for first-time buyers
The proposed legislation would assist first-time homebuyers with down payments & potentially provide additional funds for minority & low-income buyers.
4️⃣More inventory available
Mortgage forbearance options established by the CARES Act are expiring. People behind on mortgages can sell their homes instead of entering foreclosure, opening more inventory for buyers.