Can you believe it's almost 2022?
I'm here for you and thank you for allowing me to be a resource.
I've been selling homes since 2007. there's not a nook or cranny that I don't know in the area.
Before I do, I want to resolve to you that I'm going to do a much better job throughout 2022 of remaining in touch with you, remaining a resource for you, and if there's anything that I could ever do for you, please don't hesitate to reach out. I'm here to help you in any capacity to provide for you in 2022.
How will it be different from 2021 in real estate sales?
The reality is that none of us have a crystal ball, but what we do have is an opportunity to look backward at historically what's happened so far, which will help us predict the future.
So, suppose you look in Northern Virginia, particularly at the end of 2018:
Amazon had announced that they would be coming to the area here in Crystal City, Arlington, Virginia.
When that occurred, about 35 percent less inventory was on the marketplace from that point moving forward.
In March of 2020, we had expected that the inventory would begin to increase because of the sellers that remained off the market during that period.
Well, that didn't happen because of Covid-19. The pandemic started.
We were expecting a flood of inventory around that same period, and obviously, that impacted the market dramatically the first few months.
There were just a bit of like daring headlights - it wasn't until about the middle of the year 2020 that buyers started coming out.
The Result
The woodworks in the inventory remain all-time low, which caused a double-digit increase in prices across many areas.
Where we are today is we're at the top of a plateau of prices, the highest that they've ever been, and interesting enough - we're still at the bottom of the interest rates.
The feds indicate that the interest rates will be going up throughout 2022. So as that happens, we expect that maybe prices may decline as the cost of getting a loan increases but at the very least.
Interest rates are likely going up ultimately.
That means that if prices go down, my interest rates go up, it's going to cancel itself out for buyers. For sellers, it means that you're going to get less money.
So that's pretty much where we are right now. We'll have to wait and see my prediction of what will happen.
Increase in inventory by March of 2022, and as that happens, the market will continue to taper off and continue to flatten and maybe even decline.
If you're in the market to make a move right now or to purchase or to sell, let's talk because your situation is different from your neighbors; because there are so many micro pockets here in Northern Virginia, Maryland, and Washington DC.
I've been selling homes since 2007. there's not a nook or cranny that I don't know in the area.
I've got your back, and you can get in touch with me anytime. You can text me, call me, email me day, night, and weekends.
I'm here for you and thank you for allowing me to be a resource.
If you're interested to learn more about Real Estate Investing or tips and strategies about Real Estate, you can reach me at 703-346-2776 or send me an email at Dan@greetingsvirginia.com. We will be more than happy to help you.
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