Here’s what I believe we’ll see in our Phoenix real estate market in 2022.
What will happen in the 2022 Phoenix real estate market? Today I’m sharing my market predictions for next year. We’ve been in a seller’s market with low inventory and high demand throughout 2021, and I expect the same from 2022.
I also foresee single-digit appreciation despite 2021’s appreciation exceeding 20% for the median sale price. One reason I predict more mild appreciation next year is because I expect interest rates will increase by the end of 2022. Something to keep in mind about the real estate market is that it’s very stable. The stock and crypto markets can be incredibly volatile and rise or fall 20% within a day, whereas if there’s a shift in supply and demand, it’ll take months (if not a year or two) to impact the real estate market.
I believe our market will stay strong and consistent in 2022. If you have any questions about the market or buying or selling a home, please give me a call or send an email. I’d be glad to schedule a free consultation with you.
