Raleigh Real Estate Blog

After spiraling to new heights during the pandemic, the housing market is finally starting to cool. Home prices appear to have peaked in a growing number of U.S. markets.

The U.S. housing market continues to move toward more evenly balanced supply and demand compared to the 2021 frenzy. Home prices are coming down in some areas, and analysts expect that trend to continue.

Admittedly, the landscape for buyers looks bleak. Yes, prices are rising and will continue to do so — but that will be good news for you once you’re all moved in.

The days of soaring home values and bidding wars may not be through just yet. Although rising mortgage rates are expected to eventually alleviate demand, scarce housing inventory continues to pose a challenge for today’s homebuyers.

Now that mortgage rates have returned to pre-pandemic levels, new home buyers are starting to feel the full weight of record prices.

Now that mortgage rates have returned to pre-pandemic levels, new home buyers are starting to feel the full weight of record prices.

With the onset of the spring market, rising mortgage rates, and fewer active listings compared to one year ago, buyer competition has intensified.

Not only does March hold the promise of warmer weather but also a softening to the housing market.

2022 is likely to bring more balance to the housing market. But don’t expect a buyer’s market; just more selection, less frenzy and slower price growth.

Going into 2022, the lack of available inventory is still fueling the US housing market’s demand; and though affordability concerns continue, a strengthening job market is helping make homeownership more accessible.