Home prices surged in 2021 due to high demand, low interest rates, disposable income, the pandemic and historically low inventory levels. In 2022, homes prices are forecasted to rise by about 10%. Prices are expected to level off in the second half of the year.
My mid-month report on our local real estate market revealed lots of new listings and prices levelling off. But then predictions for the rest of 2021 and into 2022 show prices edging up. Also, what to think about when buying a condo and more rules to follow when selling your home. Finally, the 7-day market update.