February 2022 - National Housing Market Update

by Jeff Minter

Where is the market heading? Is it a buyer's market or a seller's market? And what does that even mean? Are we going to see a crash? Are we in a housing bubble? There are a lot of things to speculate in today's market. So let's dive in and see what the experts have to say in this national market update.

The biggest factor impacting our market today is that we are really, really short on available listings. Realtor.com states that the national average of number of homes available from December 2020 to December 2021 is down 27% nationwide. Yet, even with how hard it's been to find available houses, it has not slowed down our home buyers. In fact, according to the ShowingTime monthly index, the number of buyer showings during November 2021 was higher than November 2020.

And these numbers are absolutely crushing the number of showings that were happening before the world turned sideways on us. The Vice President of ShowingTime says, "Showings traditionally lag during the holiday season, but the data we're seeing tells us that buyer demand remains strong. The fact that every region showed a year-over-year increase indicates that buyers are undeterred and it speaks to their desire to keep searching for their next home."

Buyers are out there and they are ready. With limited listings available, we are on pace to see a market very much like last year.

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