Let’s recap 2021 and look at what we can expect from our market this year.
I hope you all had a merry Christmas and a happy New Year! I wanted to recap our 2021 market today and talk a bit about what we expect in 2022.
Last year was phenomenal. We ended up serving over 2,300 families in the El Paso County area. That came out to about $1 billion in sales. I can’t thank you all enough.
Prices will stabilize a bit in 2022.
In general, we saw 45,000 transactions across El Paso County. That’s insane; it makes last year one of our best markets ever. In total, there was close to $20 billion in sales.
What’s coming up in 2022? I think prices will stabilize a little bit. We won’t see 18% to 20% appreciation; instead, home prices might go up 8% to 12%. Also, interest rates are on the rise, which will help stabilize the market. We saw a 0.5% increase in rates over the last week, and we should see a similar increase over the next six to eight months. If you’re looking to refinance, now is probably the best time to do so.
If you need anything or have any questions, please call or email me. I think the need for a full-time Realtor is greater than ever. I look forward to hearing from you.