The South Carolina housing market is in a volatile state. Housing inventory is shrinking, and that is making prices rise. According to Zillow, housing prices will climb between 11% and 14% through 2022.
That’s great news for home sellers who want to maximize their return on investment. But it’s also a call to buyers who wish to purchase a home before prices exceed their budget. Let’s take a look at some housing market predictions for the 2022 housing market in South Carolina.
Housing Market Predictions for Sellers
If you’re selling a house in South Carolina, you’re choosing at a good time. There are no easier real estate market predictions than predicting a seller’s market. Right now, and for the foreseeable future, there are more buyers in the market than sellers.
With high demand and low supply, home prices increase, and that’s a huge benefit to home sellers. But just because there is a high demand for quality homes doesn’t mean you should take the first offer you receive. Our expert team has experience helping sellers explore their options, review market conditions, and find the best time to list your home.
If you have a pressing need that requires a quick sale of your home, we can help with that, as well. We have an extensive network and knowledge of homebuyers in South Carolina. We can help you position your home to the right buyer for the right price.
Home Buyers Have Some Opportunities in 2022
Housing inventory is expected to make a comeback in 2022 as more sellers list their homes. That’s good news for people buying a house in South Carolina as they will have more choices. A recovering economy and higher wages also empower buyers to purchase bigger and better homes.
Mortgage lenders are offering competitive rates for new and used homes. If you’re a home buyer heading into 2022, this is good opportunity for you.
Other Real Estate Predictions
Some real estate investors have waited for the housing market to cool down, but that’s not likely to happen soon. This is still a good time to invest in real estate. Government incentives and tax credits make it easier for home buyers, and interest rates will likely remain low as the economy recovers.
Suburban and rural areas will continue to see growth in home sales. More people are switching to permanent remote work, and the need to live close to urban areas is dwindling.
The Future Looks Bright
Whether you are selling a house in South Carolina or looking for a home to buy, the outlook is good. Additional inventory will help buyers find a new home, but the demand will keep prices higher than in previous years. Government incentives and tax credits will assist first-time buyers, and sellers will likely have their choice of offers as people compete over newly listed properties.
Housing market predictions are just that – predictions. But there is one thing you can count on, and that’s the personal service and expert advice from our team. Contact us today to explore your options to buy or sell a home.