2 minute read
"The Best Way to Predict the Future is to Create It"....Abraham Lincoln
- Abraham Lincoln
I sure wish I had the ability to know for certain what the future holds. Can you imagine what kind of power that would be? All of your decisions today would be based on the fact that you already knew what the outcome would be.
I sure wish I knew for certain what the real estate market will be like in 2022. I’ve prognosticated for many years, and like the weatherman, sometimes I’ve been right, and sometimes I’ve been off. The best any of us can do is make an educated guess based on past experience and current information.
Using that method, my expectation is that 2022 will look a lot like 2021. In our market, there will be only minimal new construction activity which will drive almost all of the buyers toward existing homes. This lack of inventory will continue to drive up prices. Interest rates should remain low, although maybe not the historic lows that we’ve seen recently, but they will still be very attractive and allow you to buy more home at a lower payment.
Is this the year you will create your future with a new home? That home you buy in the spring will likely be worth more by this time next year. Some day interest rates will get back to normal. Maybe this is the time to take advantage of what we know today.
No one can predict the future, but by taking action, we can have a hand in shaping what it looks like for us. In other words, we can shape the future, or we can let it shape us.
Jonathan R. Krause President, Gambino Realtors
815.282.2222
