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Tierra Bella Realty | 241 Agents Blog

Sunday, June 12, 2022   /   by Jeff & Aaron 241 Agents

Higher Rates and Short Supply: The State of Real Estate in 2022

Higher Rates and Short Supply: The State of Real Estate in 2022
 
The last two years caught many of us off guard—and not just because of the pandemic. They also ushered in the hottest housing market on record, with home prices rising nationally by nearly 19% in 2021, driven primarily by low mortgage rates and a major supply shortage.1
But while some had hoped 2022 would bring a return to normalcy, the U.S. real estate market continues to boom, despite rising interest rates and decreasing affordability.
So what’s driving this persistent demand? And is there an end in sight?

Here are three factors impacting the real estate market right now. Find out how they could affect you if you’re a current homeowner or plan to buy or sell a home this year.

MORTGAGE RATES ARE RISING FASTER THAN EXPECTED
Over the past couple of years, homebuyers have faced intense competition for new homes—in part due to historically low mortgage rates that were a result of t/ ...

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Tierra Bella Realty | 241 Agents
Aaron Saenz
865 E Baseline RD, #132
Mesa, AZ 85209
480-725-5114
Jeff Gaertner & Aaron Saenz
480-725-5114
865 E Baseline RD, #132
Mesa AZ, 85209

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