Our House
Are you as thankful as we are to be in 2022? Although January 1 is just another day in our lives, it does represent the start of the new year’s adventures and statistical measures. Since we’re feeling thankful, let us be thankful in all things… even crazy real estate markets. We’ve always stressed the importance of understanding the needs and wants of our clients, setting expectations, and then establishing a set of goals to help navigate through the multitude of available options. This preparation is done to help establish a healthy mindset before a series of what could otherwise be stressful decisions begin to occur on a fixed timeline.
With 2021 seeing an increase in price by 11% on average over 2020 single-family homes, this year’s expectations should be similarly set. More buyers will continue to enter the market and we should continue to see more homes hit the market too (a 3% increase from 2020 to 2021 in the number of homes sold). The seller’s market will continue to exist, but most analysts are expecting prices to be more inversely affected than last year due to increases in new construction and anticipated rising interest rates.
According to a global study by the University of Michigan, “People who were more grateful had lower blood pressure and heart rate, as well as greater feelings of appreciation toward others.” What can we infer from that study? One, those who are going to be buying or selling are more likely to make a sound decision peaceably if they see the reasons to be thankful during the process. Two, those choosing to be grateful are easier to be around during a home search and/or sale. No one likes to be uprooted from their schedules, but if we’re making the decision to go through the process, there’s no sense in being unthankful.
Too many times we have seen everything work out and clients not having to settle. If our experience shows this to be true, then optimism is easier to rely upon because it has a track record. According to Realtor.com, “2022 for-sale home supply will begin to recover from recent declines (+0.3%), but millennial demand will likely keep supply limited…” And even amid rising interest rates, they are still at historical lows. This means homes are going to be worth more, rates will keep it affordable, more homes are expected to sell this year than last, and the sun will come out and shine brilliantly again too. Our first tip of 2021 is to be thankful, in all things and at all times. So, let’s be grateful and start 2022 off on a good note!
-Tom and Julie Douglass
[email protected], [email protected]
205-999-2780, 205-999-4153
