Will housing prices drop in 2022? There may seem like an obvious answer to this question, “of course with interest rates rising housing prices will drop.” But, that’s not exactly what the data shows, especially when you take into account that 2022 is not a normal housing market by any means. We had high demand, which is starting to cool, but housing prices are still far from affordable. And with so many homeowners enjoying huge equity boosts, is there even a possibility that foreclosures could fill the supply gap?
Instead of postulating about what will or won’t happen, we brought on an industry expert who can give a data-first decision on which way the housing market will move. Rick Sharga, EVP of Market Intelligence at ATTOM, knows the data. He spends the majority of his waking hours scanning through copious amounts of housing market information so he can give investors and real estate professionals a true, unbiased opinion on what will happen next.
Rick goes deep into demand, what’s causing it and whether or not it has been suppressed thanks to interest rate hikes. We also touch on the foreclosure “crisis” that never happened, how forbearance programs worked, and why we’re starting to (finally) see an uptick of foreclosures, many of which could make great investment properties. Lastly, you’ll hear why waiting out the housing market could be a move many investors shouldn’t make.
In This Episode We Cover
Why interest rate hikes are affecting the housing market faster than we thought
The possibility of a housing market crash and what it means for investors
Forbearance and foreclosures explained and what makes this market different from 2008
“Emotional equity” and how it could keep home prices high for years to come
Buying rental properties at auction and what to know before you make a bid
Why waiting for lower homes prices could cost you tens of thousands more
And So Much More!
Links from the Show
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On The Market
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Connect with Other Investors in the “On The Market” Forums
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Grab Your Ticket to BPCon 2022
BiggerPockets Podcast 604
ATTOM Insights for Real Estate Investors
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Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-17
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