Prediction #2: New listings will hit a 10-year high
In 2022, new listings will surpass the 2018 high of 7.6 million homes, setting a new record going back to at least 2012. As the market becomes more balanced, homeowners will find it less daunting to list their home while looking for a new one to buy. Home-sale contingencies, which allow a homeowner to make an offer to buy a new home on the condition that their existing home sells first, will become more common. The end of double-digit price growth will also encourage more homeowners to finally cash-out. This increase in listings of existing homes will coincide with a slight increase in listings of newly constructed homes.
With interest rates expected to rise this year, now is a great time to refinance or purchase a home at today's rates. Let the experts at National Iron Bank help meet your lending needs. Click here to learn more!
