As we get ready to ring in the New Year, many consumers are wondering … What will the housing market look like in 2022?
According to Pat Pitocchi, director of corporate training at Downing-Frye Realty, the market will remain hot, but slow slightly due to tight inventory. And she expects mortgage rates to rise.
“I think we’ll see a 30-year fixed mortgage increase to 3.5-4%, which is still a really good rate.”
She also expects construction and supply issues to continue, but thinks it won’t get any worse. So I guess there is a silver lining. It’s just a little tarnished.
– Vikki Locke, C2 Communications