5 Real Estate Trends That Will Impact the Purchase or Sale of a Home in 2022 in Farmington Hills The sharp increases in home prices over the past couple of years were fueled by low interest rates, record high demand, and supply constraints. However, 5 trends have emerged and should help homeowners decide whether or not they want to buy or sell during the remainder of 2022. Whether you’ve recently been thinking about buying a home or selling your current one, here are 5 real estate trends you need to be aware of: ● appreciation of home values will start slowing down from its record pace ● buying demand and the competition for homes will start to decline ● mortgage rates are going to continue increasing ● new home construction will increase ● property investors are going to continue investing According to the U.S. Department of Housing and Urban Development, the median price of a home in the US hit $404,700 (an all-time high) during the 3rd quarter of 2021. This was an increase of nearly 20% from the 3rd quarter of 2020. So, if you’re hoping for some relief in the competitive, overcrowded housing market this year, there may be a light at the end of the tunnel. The National Association of Realtors has predicted that the available housing inventory is soon to hit the market which should slow the pace of increasing housing costs. https://maps.google.com/maps?cid=17636774335061292863