Bozeman Area Happenings

2022 Market Forecast Main Photo

2022 Market Forecast


Posted: December 14, 2021 by Nicole Burgan

There is a lot to be said about the changing market in Montana. If you have been seeing the ebbs and flows of the 2021 market after the boom of 2020, you should be curious about how it will change in 2022. Here is what to expect in next year's housing market. 


Many first time home buyers were thrown into the housing affordability and nation’s rising rent prices. Because of this, most individuals tried to capitalize on the low interest rates, but went through the relentless low-inventory and high-demand market. The National Association of Realtors projects that home sales will notch lower by 2% in 2022, mostly due to higher mortgage rates, which are likely to hit 3.7% by the end of 2022. 


Looking at inventory for 2022, it will likely increase due to more home construction. If you are looking to be a first time home buyer, start talking to a local professional to see what your budget will look like. Be sure to factor in rising mortgage rates as well. 


The market will shift, but it will not shift drastically. When looking at 2022 keep an eye out for rising mortgage rates and be prepared with getting pre-approved so when the perfect home hits the market you are ready! 


If you have any questions, or need help, please don’t hesitate to reach out to the experts here at Coldwell Banker Distinctive Properties Bozeman. 

Loading Comments

 Categories


 Archives