Happiest of New Years to all of my friends, clients and colleagues! The promise of a brand new year with new experiences, new clients and new adventures is exciting to me. As 2021 winds down, I look back with appreciation and gratitude for everything that happened in the past year. Thanks to each of you that made this such an unforgettably great year!
Watching home prices surge in 2021 took many of us in the industry by surprise. Industry metrics show a solid 20% annual appreciation for single family homes in Kansas City. 2021 was the perfect storm of historically low interest rates, low inventory and explosive buyer demand.
The market for 2022 looks very similar. Mortgage interest rates will almost certainly begin to rise, but low inventory and excess demand will continue with no end in sight. I expect that housing affordability will eventually cap price gains, but that may be years away.
If you are considering a move in 2022, let’s make plans to meet. There really is no substitute for having a good strategy in place when selling or purchasing a home in this market. I’m available anytime….just call, text or email.
Sending you the warmest wishes for a healthy, happy and prosperous New Year! Let’s stay in touch!