Local Homes for Sale — 2022 Preview — Caldwell, ID
The Year Begins for Caldwell Homes for Sale
Caldwell Homes for Sale in 2022: Buyers See Encouragement
For Buyers Eyeing Caldwell Homes for Sale, Encouragement
When local homeowners put up their Caldwell homes for sale in 2021, they did so buoyed by a national market Google characterized as “exploding like fireworks.” Buyers who might otherwise have been dissuaded by heady asking prices were able to zero in on bottom lines that were manageable thanks to historically low mortgage interest rates. For many, the biggest impediment wasn’t only the hefty price tags — it was locating Caldwell homes for sale that met their housing needs at any price. For much of 2021, more than one frazzled house-hunter could grumble that hen’s teeth were plentiful by comparison.
As Saturday marks the opening of 2022, would-be home buyers may have reason to take heart — but not because area housing price tags seem headed for a downturn. CNN Business summed up the buyer’s path forward in the new year with a few cautiously encouraging points:
Industry titan Zillow projects that 6,000,000+ buyers will succeed in landing a home in 2022, “many of them for the first time.”
Although mortgage interest rates seem certain to rise, they are expected to hold at better-than-average levels. The NAR® forecasts 30-year fixed-rate mortgages will average only 3.7% by the end of 2022, and Fannie Mae, even less.
If rents rise as predicted, buyers will realistically determine that the fixed price of a mortgage makes owning an increasingly valid economic choice.
The shifting employment picture, having enabled many employees to separate where they live from where they work, will free buyers to consider homes in a wider area.
For homeowners putting their own Caldwell homes up for sale in the coming year, though, the prognosticators aren’t suddenly calling for a market downturn in 2022. CNN Business’ recommendation for buyers is to be prepared with mortgage pre-approvals and a mindset that allows them to “be decisive and move quickly when they find the right home.” That’s not new for 2022 — it is always a shortcut to success in a sellers’ market.
Another evergreen tip is one I don’t mind repeating from time to time. Whether you are a buyer or seller: to start with an edge on the market, give me a call!
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