Buyers Get Ready for Another Crazy Housing Market in 2022

Source: CNN Business

As baby boomers hit retirement, more millennials will reach peak first-time homebuying age, which means they’ll be competing in a market short on housing inventory. While the market will slow a bit from the surge in demand it saw in 2021, sellers will remain in control. Zillow expects prospective buyers will face bidding wars, difficult trade-offs and frustration.

Zillow expects more than 6 million people to buy a home in 2022, many of them for the first time. To be sure, the obstacles they will face are many. The continued intense competition will add upward pressure to home prices, making it especially difficult for first-time buyers to afford a home. 

See the full article here.

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