HOUSTON, TX. - Experts predict this year’s spring will be the busiest since the pandemic. The housing market is off to a busy start in 2022, with new records being observed in the pace of home-price growth and median listing price last month.
Houston has been one of the hottest real estate markets in the country for years. It is also one of the hottest real estate markets for investing in rental properties. The Houston metro area offers great opportunities for investors who are looking for a stable market that offers both cash flow and equity growth at a price that is STILL well below their replacement value. According to many experts, Houston has been in seller mode for several years now and there’s no reason to think that will change in 2022. With a record no. of sales in 2021, the Houston housing market is off to a big start in 2022.
Zillow’s forecast calls for 11% home value growth in 2022. That’s down from a projected 19.5% in 2021, a record year-end pace of home value appreciation, but would rank among the strongest years Zillow has tracked.
Existing home sales are predicted to total 6.35 million, compared to an estimated 6.12 million this year. That would be the highest number of home sales in any year since 2006.
It is also expected that mortgage rates and inventory to rise as well. The market is likely to cool compared to 2021, but it will still be active. It may still be a sellers’ market in many areas, but there’s likely to be more opportunities and wiggle room for homebuyers. A priced-out buyer should be able to find many more options. Experts also reinforce that the 2022s housing market is not at all likely to crash the conditions we're seeing are nothing like those that led up to the crisis of 2008 as reported by Andrina Valdes of the Finance Journal.
Overall, 2022 is predicted to fall just short of record-breaking.
About the writer: Shaura Cuyan writes all the hottest Real Estate trends and predictions for Summit VA Solutions! She has previously written for a number of freelancing gigs both locally and internationally and writes her own blog on lifestyle and current issues. She is a Graduate of Bachelor of Arts in Communication and has a Masters degree in Development Communication.