2021 was quite the year! Between August 2020 and August 2021, home prices across the United States and Canada rose to record levels, with the U.S. housing market rising to a record of 19%&
December 2021 Market Snapshot for the Triad
Dated: January 14 2022
If you're thinking about selling your home, it's important to have a good understanding of what's going on in the Piedmont Triad real estate market.
Knowing the most important data such as the average sales price, the number of homes sold, and days on market will better prepare you to sell your home.
Our market report showcases everything you need to know about local real estate trends.
The 2021 housing market was one for the history books. After three consecutive months of increases recently, existing home sales are on pace to hit their highest level in 15 years, with an estimated 6 million homes sold in 2021 according to the National Association of REALTORS®. Sales prices reached new heights, inventory hit rock bottom, and homes sold in record time, often for well above asking price. Mortgage rates, which began the year at historic lows, remain attractive, and homeowners who choose to sell in the coming months can expect to see plenty of buyer activity due to pent-up demand during the pandemic.
Looking ahead, experts anticipate many of the housing market trends of 2021 will continue in 2022, albeit at a more moderate level. Strong buyer demand and inventory shortages are likely to persist over the next year. Home sales are projected to remain strong but will be tempered by the limited supply of homes, higher sales prices, and rising interest rates, with the Federal Reserve planning multiple rate hikes in the new year. Price growth is expected to slow somewhat as a result, but affordability will likely remain a top constraint for some homebuyers.
Click below to view the FULL report.
All data from Triad MLS. Report © 2021 ShowingTime.
I have been a leader in Greensboro’s real estate market since 1994 and have consistently been a top producer in many segments of the Triad market. As a Greensboro native, I have extensive knowledge....