NASDAQ Predictions for the Housing Market in 2022, Will 2022 be even hotter for sellers? Hi, I’m Kimmy Rolph with Berkshire Hathaway Fox and Roach and we are going to look to Nasdaq for these predictions. Across the nation and especially on The Main Line, inventory is incredibly tight. The workforce moving to hybrid models of work yielded so many families looking to move out of the city, and The Main Line PA was a natural place to buy real estate.
For buyers, this really was a problem because the offers coming in were increasingly competitive and mortgage rates remained low, so those looking for homes, were really wanting to buy asap. We could see a repeat of next year, without a substantial uptick in inventory. Home prices will likely level a bit, but we are not looking at large numbers of homes on the market from foreclosure or distressed properties, because owners are getting relief. Even though mortgage rates will likely increase a bit, Main Line offers that are being accepted are more often than not, cash forgoing contingencies.
What is more, If you’re looking at buying a home to serve as a rental, you might really want to buy. Home prices may be way up these days, but so are rental rates. So, if you add an income property to your portfolio, what you lose in the form of paying a higher price, you might gain in the form of higher rent. For sellers, there is no better time to sell than in 2022. Please see our resources at the end of the video and in the description for how to get the best offers. If you are still hesitant to buy, how else can you take advantage of the RE market?
There are plenty of ways to expand your real estate portfolio without buying an actual home. If property values are too high for your budget, you can look at buying REITs (real estate investment trusts) instead. In fact, given that the demand for rentals is so high these days, you may want to look at residential REITs, which focus on properties that can include apartment buildings, student housing, and even single-family homes.
I hope this gave you some ideas on how to start real estate investing on The Main Line. If you are considering buying or selling a home on The Main Line, please do not hesitate to reach out to me today! Kimmy Rolph sells The Main Line and local areas.
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