2022 Market Forecasts
The year 2021 ended up being one of the strongest real estate markets to date in the Ventura County area and California as a whole! Despite unclear forecasts in other aspects of the business and financial world the real estate market has remained as strong as ever. As your expert Moorpark Real Estate team we would love to help you achieve all of your real estate goals in 2022. The California Association of Realtors released their forecasts for 2022 and it is all significantly positive.
Fewer home sales are predicted to occur in the year 2022 for one reason or another but prices are still expected to soar. Throughout the course of the year home sale prices are expected to rise 5.2%! Rental growth is up as well from 11% to 13% meaning all positive things for real estate investors. While the number of home sales are low currently, this is not unusual for this time of year. However, real estate inventory in our area remains particularly low even for the holiday months, creating more demand than inventory allows. Mortgage rates also took a small dip this month but are expected to consistently rise throughout the year 2022 starting in the 2nd quarter of the year. If you are considering buying a new home next year now is the best time to take advantage of the existing low rates as it is likely the best deal you will see for quite some time.
As your trusted Moorpark Real Estate team we would be happy to walk you through all the best options for your specific situation. Whether it is buying, selling, or both we are happy to offer advice for all situations! We look forward to helping you achieve all of your real estate goals in 2022 and wish you all a very Happy New Year.