John Pjeternikaj shares a few real estate trends for 2022

Though real estate is seen as a stable and strong market just like other sectors, the pandemic has changed the course of the real estate market. Several changes followed by new buying habits have caused real estate investors and buyers to anticipate the market beforehand to survive in the market.

This article will talk about some trends that the real estate market might witness in the coming future by John Pjeternikaj.

Here are a few trends that are most likely to prevail in 2022:

Mortgage rates will boost: Federal Reserve tapering its mortgage securities due to spike in inflation, you can expect mortgage rates to boost. Though Freddie Mac reported a slight decline from 3.78% to 2.98, the average 30-year loan recently saw a hike in rates. Moreover, the Mortgage bankers association has already predicted rates will spike over the year. Therefore, real estate buyers can expect high mortgage rates in the coming future.

Inventory: This year, inventory was tight, demand for houses and supply was off-balanced. In fact, inventory hit its lowest at one point. Demand for this year’s inventory shrunk. Therefore, you’ll not witness many changes in inventory next year. With high mortgage rates, next year, it’s going to be even more difficult. However, you can contact JP Management LLC, an experienced and well-established company that can help you the most during inventory shortages.

Natural disasters will change things: Natural disasters have changed the prices of real estate, this trend will continue to grow for next year as well. For instance, California fires have skyrocketed the fire insurance rates in forest areas. You can expect the same with increasingly dire storms and hurricanes in Florida, Texas, and Louisiana.

Demand for smart homes: The demand for homes adopting new technologies will boost. Investors will soon embrace 3D virtual tours. The virtual tours were high during covid-19; this trend will continue to grow. People will restrict visiting rather than focus on 3D virtual tours. JP Management LLC has a collection of smart homes that you can view virtually for investing.

Third-party representatives: The heated trends in real estate have led to finding experienced and qualified professionals. Thus, following the trend, developers are now transitioning into professional representatives to help local experts in construction and real estate projects. John Pjeternikaj has been successfully helping investors with real estate projects for years.

Final thoughts: Real estate market is witnessing some transitions after the pandemic, so businesses or investors should adopt these changes as soon as possible.