Early outlook for the 2022 real estate market
There are some indications that 2022 could be a better year if you’re looking to buy.
VIRGINIA BEACH, Va. — Buying a home in 2021 has been nothing short of frustrating; inventory has been down, prices have been up, and in many cases, you can’t even wait a day before a prospect is gone.
The U.S. housing market has gotten so out of whack — with demand far outpacing supply — that prices have risen to record levels and roughly half of all U.S. houses are selling for above their list price.
Data from real estate brokerage Redfin shows that two years ago, before the pandemic, just a quarter of homes were selling above the seller’s asking price. The current level is the highest in the decade that…