National Association of Realtors® Chief Economist’s Predictions for 2022
While none of us have a crystal ball to predict the future of the real estate market, it’s interesting to hear what the National Association of Realtors® chief economist, Lawrence Yun has to say about next year. During a recent conference, Yun expressed tempered optimism for 2022. To quote Yun directly, “All markets are seeing strong conditions and home sales are the best they have been in 15 years. The housing sector’s success will continue, but I don’t expect next year’s performance to exceed this year’s.” He went on the express that while the 2022 housing market may not exceed this year’s, he expects house sales to outperform pre-pandemic levels.
My personal experience this past year has been anything but slow. Mostly all listings have received multiple offers above asking price. Buyers are coming prepared and properties have been moving quickly. Through my 30+ years in this business, I’ve seen many ups and downs and it’ll be interesting to see what 2022 has in store.