With the start of a new year fast approaching, you may be wondering what’s in store for the housing market. So let’s take a look at our November and year-end stats and see what 2022 predictions we can make for our market!

The Northern Virginia housing market is expected to remain strong in 2022. However, it will be less frantic and fast-paced than 2020 and 2021. Mortgage rates are expected to increase to near 4% by year-end, but the housing shortage remains, keeping demand high.  Rising incomes and plenty of job opportunities in our area support an estimated 3.3%- 5.4% growth in home sale prices across detached and townhomes. However, the condo market is expected to be flat with an elevated inventory.

Whatever 2022 may bring, we hope for happy, healthy, and healing days ahead! If you foresee the new year bringing about a bigger change, such as moving into a new home, visit our website to learn how we can help you throughout the home selling and buying process for a successful and stress-free move!