Brian Buffini hosts his Bold Predictions on his show highlighting what he sees for the real estate industry in 2022. Click the link above or here to watch the full video. We mark some key points below for a quick take-away!
State of the Market
Brian covers the current state of the market, including these key points There are more real estate agents in the industry than ever before! What does this mean to you? The years of experience drops as this number of active agents increases! So, make sure you are doing your research when selecting an agent, someone who is knowledgeable and experienced to help you! Some other interesting trends in the current market are: increased sales to multigenerational homes, which are families pooling together resources and buying a home to live in together. Nationally, buyers are still typically purchasing their homes for 100% asking price, 29% buying for more than asking. First-time home buyers made up 34% of buyers, which is an increase of the last year. And only 15% of homes purchased were new homes, which is lower than in the past, showing inventory of new construction is lacking.
An Interview with Dr. Yun
Brian also has his annual Interview with Dr. Yun from the Chief Economist for the National Association of REALTORS® who helps provide Buffini with valuable research of the real estate industry. Dr. Yun gives into an overview of the economy and how it affects real estate. He covers the unemployment rate, total jobs that exist, and total job openings all of which he tells how this impacts housing. Some other areas Dr. Yun highlights is annual existing home sales vs new constructed single-family homes, mortgage rates, and days homes are listed on the market. Watch Brian's full video linked above to dive into Dr. Yun's insight!
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