Boston Real Estate Trends we will see in 2022. In 2022 we might not feel our waistline the only thing that feels tight. The Real estate market inventory will remain tight and might feel a bit more expensive than in prior years. Interest rates will increase so when buyers do buy they will have less money to bid up with for the home of their dreams.
Mortgage Rates will Rise
Interest rates rising will be a real estate trend that will also slow sales growth. Higher rates mean higher monthly mortgage payments, but they are also likely to usher in a return to a more balanced supply-demand dynamic and slower pace of home price increases. The competition will subside when some buyers get pushed out of the market as they lose purchasing power with higher mortgage rates. Less competition will reduce the number of bidding wars and draw in new seller inventory from homeowners that were holding off selling out of fear of having to fight for the purchase of their next home.
Sales price growth expected to slow
A welcome trend is less competition and improving inventory is good news for fatigued homebuyers, as it will likely curb the rapid price increases they have been chasing. A home that is priced well will still move quickly and you might see the occasional bidding war but it will not be the norm.
Buyers Rebates will be something buyers see in 2022
A Boston Real Estate Trend not sure I have seen is buyers rebates, but buyer rebates might be something that we see more of. What is a Buyer rebate well it’s when the buyer gets credit after they close It could be part of it comes from the agent’s commission This is not the only thing that we might see changing with buyers’ rebates? Buyers agents might see changes ie their commission might not be coming from the Seller agent or might have to be disclosed more about how a buyer agent makes their commission to the buyer.
Normal Buying Season will return and buyer patterns will return to normal
Normal Buying Season should return. In the last few years Boston Real Estate Trend the market has felt more like a marathon than a seasonal sprint for buyers. Buyers will still be sprinting but they will feel it’s a short sprint than a 26.2-mile marathon. Buyers will see more inventory which means more choices and sellers will need to price their home right to sell which will all help prices moderate. Keep in mind Boston prices are still some of the highest in the country so whatever the adjustment is in the market place don’t expect prices to drop like a rock. They will not. Buyers will however feel they have choices and might not feel so under the gun.
The desire for shorter commutes
Remember when you moved out of your apartment or condo and moved to New Hampshire where there was more land or you decided to work from a beachfront condo in Florida because you didn’t need to go into the office? Well like 2021 people returned to the city and those who are living further out will desire living places with shorter commutes again. Offices will fill back up and life will return to a normal we recognize before covid started. There might be a delay in offices filling back up in 2022 due to the new variant, but it will happen. Many companies will offer the hybrid model of allowing employees to work from home so many days a week, but there will be a return back to office life.