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Expert Insights on the 2022 Housing Market
As we move into 2022, both home buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022.
Odeta Kushi, Deputy Chief Economist, First American:
“Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today.”
Danielle Hale, Chief Economist, realtor.com:
“Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first homes sooner than they might have otherwise. And with more than 45 million millennials within the prime first-time buying ages of 26-35 heading into 2022, we expect the market to remain competitive.”
Lawrence Yun, Chief Economist, National Association of Realtors (NAR):
“With more housing inventory to hit the market, the intense multiple offers will start to ease. Home prices will continue to rise but at a slower pace.”
George Ratiu, Manager of Economic Research, realtor.com:
“We also expect a growing number of homeowners to bring properties to market, taking some pressure off high prices and offering buyers more options.”
Mark Fleming, Chief Economist, First American:
“Strong demographic demand will continue to act as the wind in the housing market’s sails.”
What Does This Mean for Buyers?
Hope is on the horizon for 2022. You should see your options grow as more homes are listed and some of the peak intensity of buyer competition starts to ease. Just remember, rising rates and prices are a great motivator for you to find the home of your dreams sooner rather than later so you can buy while today’s affordability is still in your favor.
What Does This Mean for Sellers?
Make no mistake – this sellers’ market will remain in 2022 as home prices are projected to continue climbing, just at a more moderate pace. Selling your house while buyer demand is so high will truly put you in the driver’s seat. But don’t wait too long. With more listings projected to become available, your ideal window of opportunity to stand out from the crowd won’t last forever. Work with an agent who knows your local market and current inventory conditions to ensure you have the support you need to make an educated and informed decision about selling in the coming year.
Bottom Line
If you’re thinking of buying or selling, 2022 may be your year. Let’s connect to discuss your goals and the unique opportunities you have in today’s housing market.
Is it Safe to Sell My House Right Now?
In today’s real estate market, the buzz is all about how it’s a great time to sell your house. Buyer demand is high, and there simply aren’t enough homes available to buy to meet that growing need. This means now is the time to make a move so you can close the deal on your ideal terms.
Even in today’s strong sellers’ market, there are homeowners who are choosing not to sell due to ongoing concerns around the health crisis, financial uncertainty, and life in general. According to Zillow, here are the top three reasons homeowners who are thinking of selling sometime in the next three years are not putting their houses on the market right now:
- 34% – Life is too uncertain right now
- 31% – Financial uncertainty
- 25% – COVID-19 health concerns
If you identify with any of these, you’re not alone. Whether it’s the future of your employment situation or simply being uncomfortable having guests in your home for showings, life feels a lot different than it did at this time last year. The good news is, real estate professionals have spent the majority of 2020 figuring out how to sell homes safely, and it’s paying off for those who are choosing to move this year.
Real estate agents are doing two things very well to make selling your house possible:
1. Agents Are Implementing Technology in the Process
While abiding by state and local regulations as a top priority, real estate agents are making sales happen safely and effectively by leveraging key pieces of technology. Agents know exactly what today’s buyers and sellers need and how to put the necessary digital steps in place. For example, agents have capitalized on the technology buyers find most helpful when deciding on a new home:
- Virtual tours
- Accurate and detailed listing information
- Detailed neighborhood information
- High-quality listing photos
- Agent-led video chats
They’re listening to their audience and leveraging the tools that help buyers get an initial look at a home without having to step inside. This helps reduce the number of people entering your home, so only those who are very seriously interested need to take the next step: in-person showings.
2. Agents Are Facilitating Safe and Effective In-Person Showings
After leveraging technology, if you have serious buyers who still want to see your house in person, agents are following the guidelines set by the National Association of Realtors (NAR) and utilizing safe ways to proceed. Here are a few of them, understanding again that the agent’s top priority is always to follow state and local restrictions first:
- Limiting in-person activity
- Requiring guests to wash their hands or use an alcohol-based sanitizer
- Removing shoes or covering them with booties
- Following CDC guidance on social distancing and wearing face coverings
Getting comfortable with your agent – a true trusted advisor – taking these steps under the modern-era safety standards might be your best plan. This is especially important if you’re in a position where you need to sell your house sooner rather than later.
As Jeff Tucker, Senior Economist for Zillow notes:
“Homeowners who feel life is uncertain right now may think they can still get a strong price if they delay selling until they have more clarity. The catch is that waiting to sell may raise the cost of a trade-up. This fall’s record low mortgage rates, which make a trade-up more affordable on a monthly basis, are not guaranteed to last.”
Bottom Line
In this new era in our lives, things are shifting quickly, and virtual strategies for sellers may be your ideal option. Opening your doors up to new approaches could be game-changing when it comes to selling your house while the market is leaning in your favor. Let’s connect so you have a trusted real estate professional to help you safely and effectively navigate all that’s new when it comes to making your next move.
San Antonio 2020 Home Sales Start the Year Strong
The San Antonio area housing market started the year with a 16 percent year-over-year surge in sales in January with a total of 2,078 homes sold during the month according to the latest Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS.
This growth in sales was accompanied by increases in both the average and median prices, with the average sales price rising eight percent to $267,792 and the median increasing six percent to $229,400. The month ended with 2,554 sales still pending with just 3.3 months of available inventory on the market.
While it’s typical to see a slow down in sales in the winter months, the San Antonio area continues to attract home buyers at all times of the year. With so much to offer like great schools, a stable economy, and a booming job market, it’s easy to see the San Antonio market is thriving.
In January, 36.6 percent of the homes sold were priced under $199,000 while 57.2 percent were priced between $200,000 and $499,000. The remaining 6.2 percent were homes sold over $500,000.
In Bexar County, home sales increased 14 percent over January 2019 for a total of 1,504 homes sold with an average sales price of $249,022, a five percent increase year-over-year. Months of inventory in the county remained low at 2.8 months while the price per square foot inched up 4.9 percent to $120. Texas as a whole experienced significant increases year-over-year with nearly 15 percent more homes sold in January 2020 than in 2019. In fact, a total of 19,323 homes sold in just the first month of the year. The average price statewide rose six percent to $282,296 while the median grew 5.4 percent to $235,000.
Even with the steady home price increases San Antonio has seen over the past several years San Antonio has remained more affordable than other major cities in Texas. This affordability means that home buyers can achieve their dreams of homeownership and still be able live in a major metropolitan area with all the attractions and benefits that San Antonio has to offer.
| San Antonio Home Sales Recap* | Jan-18 | Jan-19 | Jan-20 |
| Total Month Sales | 1,760 (4% increase) | 1,793(2% increase) | 2,078 (16% increase) |
| Average Price | $244,571 (2% increase) | $248,007 (2% increase) | $267,792 (8% increase) |
| Median Price | $210,700 (8% increase) | $216,800 (3% increase) | $216,800 (3% increase) |
If you are thinking of buying or selling a home in the San Antonio metropolitan area, and want to work with a trusted San Antonio REALTOR® throughout the process, contact Trudy Edwards of KELLER WILLIAMS Realty Heritage, at (210) 595-9801, or by email at TrueSARealEstate@gmail.com.
Highland Homes Offers Luxurious Homes in Stillwater Ranch, San Antonio
Highland Homes is building single and two story, 3 to 5 bedroom homes at Stillwater Ranch ranging in size from approximately 2400 to 3,600 square feet with prices currently starting from the low $300,000s. Highland Homes offers impressive elevations, luxurious features and floor plans offering home buyers the options to truly build the home of their dreams. With over 30 years of experience in home building and working with home buyers, Highland Homes knows how to deliver quality construction with the finer details that discerning buyers will appreciate.
Stillwater Ranch is a master planned community of single family homes in northwest San Antonio, located outside of Loop 1604 off Culebra Road. Residents of Stillwater Ranch enjoy extensive community amenities including walking trails, fitness room, lighted tennis and basketball courts, a playscape and a 6,000 square foot pool with beach entry and lap lanes.
The community is also convenient to local destinations for shopping, dining and recreation including HEB-Plus, Alamo Ranch Shopping Center, Shops at La Cantera, The Rim, Government Canyon State Natural Area https://tpwd.texas.gov/state-parks/government-canyon and Six Flags Fiesta Texas. The community also has easy access to Charles Anderson Loop 1604, Loop 410 and Highway 151.
Stillwater Ranch Community Information – Annual HOA Dues: $621 per year*
Schools: ** Northside Independent School District
- Elementary – Evelyn Scarborough Elementary School
- Middle – Dr. John Folks Middle School
- High School – Harlan High School
*This fee may be subject to change **School assignments may vary.
For more information about buying a home in Stillwater Ranch or any other San Antonio area neighborhood, contact Trudy Edwards at (210) 595-9801. Sign up at my website, http://www.TrueSARealEstate.com to receive information about homes for sale.
San Antonio Area Home Sales Increase in First Quarter 2016
The San Antonio area housing market continues to pick up steam with 5,911 homes sold in the first quarter of 2016. This is a 10 percent year-over-year increase in the number of sales according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS.
The average sales price for the quarter rose three percent to $227,971 while the median sales price increased four percent to $192,900. In just the month of March, sales increased 14 percent for 2,523 homes sold.
“As we head into the spring, it is common for sales to increase. The weather is warmer and people want to beat the summer buying frenzy,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “We ended the month with 2,439 sales still pending, more than we had at our peak last year. This increased activity sets us up for a busy spring and summer.”
Since January, home sales across the state increased as well with sales jumping 8.1 percent for a total of 60,778 homes sold with an average sales price of $246,427, a 2.7 percent increase. In Bexar County, sales rose 13.2 percent for 4,596 total sales this quarter. The average price of a home sold in the county was $217,798, a 3.9 percent year-over-year increase.
In the San Antonio and surrounding areas, just over half the homes sold since January were priced under $200,000 with this segment making up 53.56 percent of sales. Homes priced between $200,000 and $500,000 made up 42.12 percent of the homes sold and homes priced over $500,000 accounted for 4.31 percent of the sales this year.
“Our prices continue to be affordable, particularly when compared to other large cities in the state and nation,” said Angela Shields, SABOR’s President and CEO. “We are fortunate to be in an area that offers all the amenities of a big city but with housing available at a broad range of prices. There is something for everyone here.”
If you’d like help finding the home that is right for you or if you need to sell your home before making a move, it pays to work with a REALTOR who knows the San Antonio area market. Contact Trudy Edwards, of Keller Williams Realty, at (210) 595-9801 or TrueSARealEstate@gmail.com to help make your next move.
San Antonio Housing Inventory Hits a Six Year Low
San Antonio Market Statistics, September 2013
According to the statistics for September 2013, the housing inventory in San Antonio hit a six year low in September with just 4.6 months of inventory. Homes listed for sale spent an average of only 70 days on the market and 97 percent of homes sold for the listed price. According to the September 2013 San Antonio Board of REALTORS® (SABOR) Multiple Listing Service Report, a total of 2,031 homes were purchased during the month, which is a 20 percent increase over September 2012.
“We have seen our inventory getting smaller and smaller all year, making this more of a competitive market,” said Steven Gragg, 2013 SABOR Chairman of the Board. “Low inventory could result in sellers receiving multiple bids on homes located in prime locations or being able to sell closer to their asking price.”
The average price in San Antonio of a home sold in September 2013 was $205,728 and the median price was $168,700. Both median and average prices are seven percent increases from the same month in 2012. Year-to-date the average sales price also increased by seven percent to $207,103 and the median grew by six percent, to $169,900.
The price breakdowns showed a slight increase in September from previous months for homes sold in the low range (below $200,000), with those accounting for 62.24 percent. Homes priced in the mid-range (between $200,000 and $500,000) made up 33.97 percent of sales and homes costing over $500,000 accounted for 3.69 percent of homes sold.
According to the National Association of REALTORS®, the Texas housing market largely avoided the crisis other states experienced over the past few years, crediting Texas’ vibrant job market and growing population. Texas has also seen substantial declines in foreclosure notices filed. In fact, according to Realty Trac, between July and September, Texas experienced a decline of 44.6 percent in foreclosure filings, compared to 29 percent nationwide.
“Interest rates have been at historic lows for some time now allowing many people to take advantage of the opportunity. Although the rates have started to inch up, they still remain below five percent making home buying affordable for a wide range of people,” said Angela Shields, SABOR President and CEO.
| San Antonio Home Sales Recap | ||||||
| Sep- 2011 | Sep- 2012 | Sep-2013 | ||||
| Total Month Sales | 1,576 | 1,686 | 2,031 | |||
| Average Price | $189,723 | $193,026 | $205,728 | |||
| Median Price | $154,600 | $158,400 | $168,700 | |||
If you are thinking of buying or selling a home in San Antonio and would like to learn more about the San Antonio real estate market, contact you San Antonio real estate resource, Trudy Edwards, for more information. Trudy Edwards is a real estate sales and marketing professional and an Accredited Buyer Representative with Keller Williams Realty Heritage. Contact Trudy Edwards at (210) 595-9801 or truesarealestate@gmail.com.
Alon Estates Offers Luxury, Location and Wooded Home Sites
Alon Estates offers a rare opportunity to build your dream home in an upscale gated community in north central San Antonio within Loop 1604. Alon Estates offers beautiful wooded home sites and greenbelt lots, offering a secluded park like atmosphere for its residents.
Shopping, dining and recreation are all within walking distance, including HEB and Starbucks at Alon Town Shopping Center and many other fine retailers and conveniences close by.
Also within walking distance of the community are the Sheldon Vex Theatre, the Jewish Community Center and the 311 acre Phil Hardberger Park which features a 1.5 acre dog park, a playground, basketball courts and walking and bike trails. Alon Estates is also convenient to world class medical facilities at the South Texas Medical Center and is within easy access to major highways such as Loop 410, IH10, 1604 and 281.
At Alon Estates homes are available from three of San Antonio’s most prestigious and reputable builders, Toll Brothers, Sitterle and Rialto Homes.
Toll Brothers homes at Alon Estates feature magnificent kitchens, elegant bathrooms and sumptuous baths. Some of the outstanding features included as standard include stainless steel KitchenAid® appliances including range, microwave and dishwasher, granite countertops, tile backsplashes and 42” cabinets. The elegant master bathrooms include as standard a soaker tub, separate shower and his and her vanities with granite countertops and under mount sinks.
The Toll Brothers Homes at Alon Estates are the “Toll Green environmentally friendly product”, featuring high efficiency 14 SEER air conditioning units, radiant barrier sheathing in the attic and Low-E vinyl windows. Available in a wide choice of architectural styles including traditional, Mission, Mediterranean and Tuscan with floor plans ranging from 2243 square feet to 4225 square feet.
Sitterle Homes at Alon Estates feature award winning floor plans with an abundance of elevations and structural options, including dramatic high ceilings, luxurious foyers, architectural niches, and arches, magnificent kitchens and elegant bathrooms. Some of the outstanding features included as standard in Sitterle Homes at Alon Estates include granite countertops, 42” upper cabinets, tile backsplash and stainless steel Whirlpool appliances in the kitchen. Sitterle Homes at Alon Estates are High Performance Homes energy efficient homes offering energy savings with TRANE® 15 SEER air conditioning units, open-cell foam insulation, R-6 duct work, and Vinyl Low-E windows.
At Alon Estates Rialto Homes offers their Executive Series and Platinum Series of “Mediterranean-Tuscan” elevations, with exceptional architectural features that include courtyards, rotundas, spiral staircases with wrought iron balustrades, side entry garages and 3 car garages. A selection of notable features that are standard in both the Executive and Platinum series of Rialto Homes at Alon Estates include gourmet kitchens with granite counter tops, ceramic tile backsplash, 42” cabinets, 36” stainless steel gas cook tops with five burners, two 30” built in double ovens with a true convection oven and a built in microwave. Also standard are luxurious master baths with granite countertops, under mount sinks, a 42” jetted tub, a separate shower and separate enclosed water closets.
Rialto Homes at Alon Estates are Energy Star certified and feature energy saving features such as Carrier SEER 14 A/C units, with R-6 insulated flex ducts, Vinyl Low-E windows, a tankless water heater for endless hot water (per plan) and radiant barrier roof decking. Rialto Homes offers a wide selection of elegant floor plans on 45’ and 55’ wide lots, ranging from 2358 square feet to just over 3900 square feet.
If you would like more information about this community, homes available to buy now or how to build the home of your dreams in Alon Estates, contact Trudy Edwards of KELLER WILLIAMS Realty Heritage at truesarealestate@gmail.com or (210) 595-9801.
San Antonio Housing Market Continues to Flourish in March
With interest rates at historic lows and the summer months just around the corner, the San Antonio residential housing market is continuing to flourish with steady increases in sales prices and the number of homes sold each month.
The San Antonio Board of REALTORs® latest Multiple Listing Service report revealed that in March 2013 the average sales price of a single family residential home was $194,271, up five percent from last year. The median sales price remained at $158,900, the same as March 2012.
Days on market fell to just 90 days on the market in March, down from 99 days on the market in February. There were 1,826 home sales closed in March and 1,935 sales still pending at the end of March.
“Low rates continue to make this a prime time to buy and sell real estate. We saw how the low rates caused the housing market to prosper in 2012, and we are continuing to see that trend as 2013 fares even better,” said Steven Gragg, 2013 SABOR Chairman of the Board.
The average rate for a 30-year fixed loan recently fell to below 3.5 percent according to Freddie Mac’s latest Primary Mortgage Market Survey®. The average rate on the 15-year fixed mortgage dipped below 2.7 percent.
Housing inventory is at 5.3 months, compared to 6.6 months at this time last year. With a quick turnaround in sales, the market is skewing in favor of sellers with 96.9 percent of homes being sold for list price.
Homes sold in the price range under $200,000 accounted for 66.8 percent of total homes sold and those between $200,000 and $500,000 accounted for 29.2 percent. Homes priced at $500,000 and more made up 3.9 percent of the total sales for March.
“San Antonio was recently ranked by Forbes as one of the top 25 cities in the country to retire, citing the city’s low cost of living and stable economy. While other cities in the country experience peaks and downturns, San Antonio remains steady and consistent which makes it the perfect place to call home,” said Angela Shields, SABOR President and CEO.
| San Antonio Home Sales Recap | |||
| March 2011 | March 2012 | March 2013 | |
| Total Month Sales | 1,556 | 1,654 | 1,826 |
| Average Price | $182,871 | $185,549 | $194,271 |
| Median Price | $149,200 | $158,600 | $158,900 |
Signs Point to a Healthy Housing Market in San Antonio
The February 2013 Multiple Listing Service report from the San Antonio Board of REALTORS® showed signs pointing to a healthy real estate market in San Antonio.
San Antonio home sales were up eight percent (8%) in February with 1,379 homes sold. Another indicator of a healthy housing market is that 96.3 percent of those homes sold for the list price.
Single family residential homes spent a mere 99 days on the market in February 2013, which is a four percent decrease from this time last year.
“Low days on market indicate consumers are finding homes more quickly and we are tilting more towards a seller’s market,” said Steven Gragg, 2013 SABOR Chairman of the Board.
According to Fannie Mae’s February 2013 National Housing Survey, 25 percent of those surveyed say they believe it is a good time to sell a house. This is the highest percentage ever recorded in the survey’s history.
In addition to the quick turnaround of home sales, there has been a boom in luxury homes for the month with 4.4 percent of total homes sold being over $500,000, the highest percentage since 2011.
Homes sold in the range under $200,000 accounted for 66.1 percent of total homes sold and those between $200,000 and $500,000 accounted for 29.6 percent. The average sales price for February 2013 for single family residential homes was $194,003 while the month’s median price was $157,000.
“With spring and summer around the corner, we are getting ready to enter our busiest season. We are hopeful that market conditions will continue to be this favorable, allowing both buyers and sellers to be satisfied in their transactions,” said Angela Shields, SABOR President and CEO.
|
San Antonio Sales Recap |
February 2011 |
February 2012 |
February 2013 |
| Total Month Sales |
1,079 |
1,278 |
1,379 |
| Average Price |
$179,035 |
$184,397 |
$194,003 |
| Median Price |
$146,000 |
$150,500 |
$157,000 |
For more information about buying or selling a home in the San Antonio area, contact San Antonio real estate resource, Trudy Edwards of Legend Realty Group, KELLER WILLIAMS Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com for a complimentary consultation, or visit TrueSARealEstate.com.
10 Free Ways to Help Your Home Sell in Less Time
If you are thinking of selling your home, or whether it is on the market already, your home needs to look fresh and appealing to buyers, online and in person. This list details 10 things that you can do right now in your home for free to help improve your home’s marketability. Following these tips will help you attract more buyers to set appointments to see your home and make your home more appealing to buyers when they view your home.
- Keep the Front Yard Trimmed and Tidy. Create a great first impression by keeping your lawn weed free, trimmed and edged. Rake up any leaves and keep shrubs neatly trimmed and shaped. Colorful seasonal flowers can make a dramatic impact and help attract interest in your home, especially for the photos.
- Wash the Windows. It’s amazing how much dirt and grime can build up on your windows over time, making your windows look dark and dull. Cleaning your windows inside and out will help make your home look clean and appealing from the outside and more light and airy on the inside.
- Keep Your Home Odor Neutral. Your home’s odor can make a powerful first impression. If you are a smoker, or have pets, you might not notice the odors in your home, but home buyers certainly will. Thorough cleaning of carpets and drapes will help to reduce odors, as will keeping the air circulating throughout the home. Air fresheners are available in many different long lasting forms these days such as plug-ins, solids, liquids, and automatic misters.
- De-Clutter Your Home.You are getting ready to move, so why not start packing? Each box that you fill will be less to do later, and will help your home look cleaner and more spacious. You will also want to make sure that all mail and personal papers are stored out of sight.
- De-Personalize Your Home. We don’t want to totally remove the character from your home, but removing personal items such as photographs, children’s names on bedroom walls and collectible memorabilia will help to maintain your privacy and make it less distracting for home buyers who are trying to envision themselves living in your home.
- Create More Space in Your Closets. Create the sense that your home has plenty of storage space by making sure your closets have room to move in. Pack away clothing and accessories that are not in season.
- Make Minor Repairs. You don’t want to give buyers the impression that your home is not well maintained. Buyers will also be looking for any reason to reject your home or to negotiate a price reduction. So take care of any leaky faucets, patch up and paint any minor holes or cracks in the walls, replace the torn window screens and you will attract more potential buyers and minimize reductions or repairs to be negotiated later.
- Keep your Home Clean and Ready for Showings. Once your home is on the market, your home may be shown while you are at work or out shopping, or at short notice while you are at home. Get in the habit of keeping your home clean and ready for showings. Keep non-essential items off of counter tops. Keep a basket with a duster, polish and wipes at hand to quickly wipe surfaces.
- Keep Pets Confined.If it is possible to remove your pets from the home during showings, then that is the best solution. If pets can’t be removed from the premises, for example, while you are at work, then it is best to have to them confined in crates if possible.
- Stay Away During Showings. When your home is being shown by a Real Estate agent to prospective buyers, you should leave the house during the showing. Buyers often feel uncomfortable if the Sellers are present during a showing and as a result spend much less time looking at the home. Leaving the home and staying out of sight during showings, allows home buyers to take their time to comfortably tour and consider your homes features and suitability.
I hope that you found these home selling tips to be of benefit. For more home selling tips and seller resources, visit my website at TrudyEdwards.YourKWAgent.com
San Antonio Real Estate info 