Wednesday, April 6, 2022

Finishing the 1st Quarter of 2022, What’s the Real Estate Forecast?


It’s too soon to share any hard data for the first quarter but we can say 2021 Aiken County homes prices rose by 19.5 % which was about 5% more than 2021.

That was remarkably higher than predicted.

Vikki and I have shared earlier this year interest rates would rise, which they have, so no real surprise there.   At the time of this video, they are hovering around 4.5% .

Millennial buyers were overall one the largest groups of buyers this past year and on the opposite side of the spectrum, boomers were one the largest groups of sellers.

The south is still one of the stronger regions for home sales. It’s all that southern charm…. lower cost of living and affordable home prices, when you compare to the rest of the US.

New construction homes are experiencing delays in their closing dates due to material shortages. Material prices increased a fair amount which is in turn, driving up the cost of new construction homes. This makes resale homes an attractive alternative.

That is true but The Central Savanah River Area (CSRA), in order words both sides of the Savannah River are experiencing demand for homes and there is a low amount of housing inventory.

We really do mean low and we have buyers seeking homes. Relocating out of the area, want to downsize, up-size, just don’t like your home anymore or trying to decide what to do? It’s a big decision, we know.

We are here to help.

 

Brandi Cook and Vikki Crossland

Meybohm Real Estate

 

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