Is the Real Estate Market Going to Crash in 2022?
The COVID-19 pandemic brought changes to every aspect of life, and the real estate market was no exception. Low mortgage rates, a dramatic increase in employees working from home, and a strong economy are some of the ongoing effects for homeowners. Many people looked to Gold Country as a place to own a 2nd home during times when their own communities had stay-at-home orders or to escape stressful city life. The interest in living in Gold Country brought a record number of home buyers and, therefore, a housing boom. Because of this boom, you may have wondered, “Is the real estate market going to crash in 2022?” Let us ease your mind: all the analysts we follow do not predict there will be a crash. Read on for why we also believe this and what we believe 2022 does hold for the real estate market.
No Crash in 2022
The 2021 housing market saw off the chart numbers nationwide, including in Gold Country. Calaveras County, Tuolumne County, and Amador County real estate were (and continue to be) in high demand especially as people look for an alternative way to live and work from home. While 2022 may not see the historic highs of last year, there is no indication of a crash and all predictions are that interest in living in the Sierra Foothills and Gold Country Living will remain very high.
Predictions for 2022
So, if Team French does not anticipate a crash for Gold Country real estate, what can we expect? We predict 2022 will offer a return to balance while still providing moderate growth. The demand will remain high but the inventory will remain low. Mortgage rates are also predicted to remain low but are slowly increasing and expected to rise slightly however predictions are they will still remain exceptionally low. People are still buying houses, but at a more balanced rate. That may mean less competition and less competitive offers but still a favorable seller’s market.
What this Means for the Buyer
As a buyer, this means there is no sense in waiting for a “crash” that isn’t looming. Many of our buyers during 2019 and 2021 felt that the highly competitive atmosphere would eventually wane and that if they waited for a leveling-off period they would be in a better position to get a home for less. That did not happen and now in 2022, they can expect to pay more for a home than they would have prior as all prices have gone up. If you are wanting to buy a house in 2022, now is the time. A home remains one of the most stable and sound investments you can make. Team French can help you find the Gold Country home that meets your needs and desires. Contact us today about beginning the buying process!
What this Means for the Seller
If you plan to sell your house in 2022, the market is still hot and ready. Now is a great time to sell your home. Buyers will be eager to learn about and view your home. We can help you prep your house for selling, market it using all the best available tools, and make sure you get the most out of your sale.
What this Means for Gold Country
There has never been a better time to live, work and play in the California Gold Country! Many employees are now permanently working from home which gives the freedom to move to wherever you’d like to call home and to live where you love. If you desire to leave the city life, Gold Country has the tranquil open space you desire, friendly small-town values, and an abundance of recreation. With all the amenities you could want coupled with the space you need to not feel boxed in, there truly is no better place. Check out our community information to learn more about why Gold Country is the perfect place to call home. So, if you’ve been wondering if the real estate market is going to crash in 2022, we hope we’ve helped calm your fears. As you move forward with your real estate goals, Team French is ready to help you do the same! Whether you are hoping to buy or sell in 2022, we are your guide to Gold Country living. Contact us today to help make your housing dreams come true this year.