Market Update - What To Expect

Dated: August 3 2022

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             What Can You Expect The Second Half

       of 2022 In The Housing Market?

Since the beginning of the year, the US economy has been cooling off.

After several years of strong growth, rising inflation and energy costs are

affecting US households in ways not seen since the 1970s. For those who

are actively involved in the buying or selling of real estate, there is

confusion and fear about how the economic slowdown will affect their

options.

George Ratiu is a senior economist for research with Realtor.com and in a

recent article, he outlined his predictions for the second half of 2022 US

Housing Market.

· Mortgage Interest Rates – As the Federal Reserve continues to

tighten credit flow to slow the economy and fight inflation, expect to see

rising mortgage interest rates as well. Ratiu predicts interest rates as high

as 6% by the end of the year.

· Home Prices – Home prices will continue to rise, but not as quickly

as we’ve seen. There are still buyers in the market who will want to jump

ahead of the rising interest rates and uncertainty.

· Sellers Advantage – Sellers have enjoyed a strong seller’s market

for the past year and Ratiu expects this to continue for well-positioned

homes. Homes priced reasonably and in good condition will continue to

garner multiple offers through the rest of 2022.

While inflation and rising interest rates are affecting the US economy, home

buyers and sellers should still expect the second half of 2022 to be a good

market to make a move. The slower pace should also allow them to

carefully consider offers, and make good decisions for their future. If you're looking to make a move, give us a call (713-805-6247)!  We are here and ready to help you every step of the way.

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PETER & VICKY ROYSTER

With over 20 years of experience, the Royster Real Estate Group was created to show that there is a difference in WHO you choose as your Realtor.  Our brand “Moving Forward” is exactl....

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