Okay, so the big topic for the housing trends of 2022 is rising interest. Everyone is paranoid. Everyone is convinced that they have have the future figured.
But the big story for the housing trends of this coming year is interest rising and of course, inflation. So how do things like that play a role in our real estate market here in Northeast Arkansas? We can listen to everyone talk about it in Washington, DC. We can hear how it is affecting the real estate market in California, but frankly, I don't live in those places. So how does it affect you and your home values in Northeast Arkansas?
For me personally, what I'm seeing is still very strong buyer demand. That is great news for those of you who still have houses and are interested in selling and moving this year even in 2022. Even with higher interest rates, we still have very low historical numbers. And so it is still more affordable to buy a home than it has been in years past. So that is good news.
The other thing that I'm starting to see is a little bit of the slowdown of just that white hot market that we've experienced. So what does that mean? Basically, I'm going to see a much more fluid market. Here lately it seems like everyone's just been paralyzed. No one has wanted to list their home because they're paranoid it's going to sell before they're ever able to even think about finding a home to buy.
Well, with a little bit of that slowing, we're starting to see more listings hit the market. So what that means is when it comes time for us to home shop, you have a few more options than you have the last couple of years. So people are feeling a little more confident to go ahead and commit with me. Let's stick the sign in the yard, take our pictures, and then that opens up more options for other buyers down the road. So this is encouraging more options.
So does that mean this little slowdown? Does that mean that all of a sudden we're going to start getting homes at a discount? It's going to be some big crash... The numbers aren't showing that. Just pure population growth alone. Pure demand growth is still at all time highs.
And so what we're seeing is the supply lack or the need for homes to be listed is at an all time high. So even if things do rise a little bit as far as costs, there are still buyers for those homes. So I don't expect to see home prices start to drop. I know that's everyone's hope if they don't have a house yet, but the experts that I'm paying attention to, the guys with a lot more letters behind their names than I do, still see at minimum four to five years of growth. So if you're holding off for that really good deal, chances are it's probably not going to happen anytime soon.
So the home that you buy today, even though it is priced higher than it was a year ago or two years.
I hope this helps!
