REALTORS® Reveal Buying and Selling Tips for a Competitive Real Estate Market Nationwide media tour held live from Live from San Diego at the 2021 REALTORS® Conference & Expo
New York, New York
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November 22, 2021 09:00 AM Eastern Standard Time
A video accompanying this announcement is available at: https://youtu.be/McIbClV5apA
Drive down any street in America over the past two years and one thing is obvious: the real estate market is booming. How hot is it? Nearly 9 out every 10 homes (86%) sold in September 2021 were on the market for less than a month.
Existing-home sales jumped 7% in September as each of the four major U.S. regions witnessed monthly sales increases. The median existing-home sales price climbed 13.3% from a year ago.
So, what is the real estate outlook for 2022? The National Association of REALTORS® weighs in.
“All markets are seeing strong conditions and home sales are the best they’ve been in 15 years,” said Dr. Lawrence Yun, chief economist of NAR. “The housing sector’s success will continue, but I don’t expect next year’s performance to exceed this year’s.”
Additionally, Yun predicts that mortgage rates will see an increase of 3.7% in the coming months, a rise attributed to persistent high inflation. Home prices rose an average of 12% in 2020 and 2021, while inflation rose 3%.
While NAR has a good idea of what to expect nationally, nobody knows your neighborhood better than a REALTOR® who lives and works in your community. They wade through complicated, data-heavy volumes of information about local markets to help consumers navigate what is the most complex and important transaction of their lives. In fact, while most buyers begin their home search online, 9 out of 10 still choose the assistance of a trusted real estate agent to guide them through this infrequent, complicated transaction.
For more information, visit https://www.realtor.com/
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