As we turn towards the outlook for 2022, we are starting out the year with the lowest levels of active listings dating back to when this data began tracking in 2001.  Low supply paired with continued above average demand levels will continue to press prices up for the foreseeable future. However, differing from 2021, we have the new added element of mortgage interest rates creeping up to the mid 3.5% to help combat the high inflationary environment we have nationally.

The number one thing that buyers and sellers alike need to prepare themselves for is the speed at which the market is moving under these conditions. A record number of homes sold in 2021 yet it felt like there were no homes for sale. In fact, it’s not a lack of inventory that’s challenging for buyers, it’s the velocity at which homes are selling. The timing is such that it appears no homes are available because they are instantly snapped up by a buyer as soon as they hit the market.