The past two years have affected various spheres. The California housing market in 2022 is very much a consequence of all these past happenings. There are many different predictions about the housing market in 2022. Moving companies in Northern California are quite busy and they as well can be considered to be one more indication of what is happening on the market today. Here are some facts about the housing market.
The prices of the California housing market in 2022
One sure fact is that the prices are growing in 2022. No one can tell for sure whether they will continue to grow or if they will fall. There are many predictions, but most projections indicate that prices will fall till the end of this year. Due to home prices rising by the smallest percentage from the beginning of this year, it is believed that they will start to decrease. So wait a little bit before you find your Salinas movers and see what will happen.
Some experts say there will be a market crash this year
This is something that many people fear of a market crash. Whether you are selling or buying a home, it will affect you as well. Since spring and summer are the peak season for buying houses, this one suggested that something is happening. Not many people are buying homes, as they would usually do at this time of the year. Because of that, many realtors say that the selling market will continue to slow down.
Increase in the mortgage
Another problem with the price increase in the California housing market in 2022 is the rise in mortgage rates. This is causing some serious effects on the homeowners. Mortgage rates are doubled and with the inflation alongside, it is a quite heavy burden for homeowners. So if you are moving to California, you have to plan your expenses as soon as you hire movers Gilroy CA so you don’t get surprised by the total amount of expenses.
Demand is dropping – can we expect another market crash in 2022?
If you remember, there was a market crash in 2008. Many people worry that the same thing will happen in 2022 or next year. Predictions say that this is highly unlikely to happen. Since the mortgage rates are higher, the California housing market will definitely slow down but will not crash. If you are planning to buy a house, you should consider the fact that prices of homes are decreasing a little still. Wait a minute before finding Monterey moving services and see what will happen.
In any case, you should definitely gather all the information before you make a decision and see what will happen with the California housing market in 2022. And don’t rush. You will certainly benefit from taking things slower in this situation.