At the beginning of each year, we do a report for not just our agents, but our clients and the general public about what we are seeing on the horizon for the coming year.
And thus, we just completed our slide deck and video capture for 2022.
The goal with any of our presentations is not just tell you ‘what,’ but spend time on the ‘why’ and the ‘how’ as well. Screaming that ‘prices are going up!’ doesn’t really mean anything, unless attention is paid to the reasons why –– as well as how long these conditions are expected to endure.
And so that is what we did.
Below is a summary of the conclusions we reached, but the video goes into far more depth as to why we feel as we do:
- 2022 will continue to see prices rise
- Both population and demographic trends are working heavily in Richmond’s favor
- The rental market is equally as tight as the for sale housing market
- Affordable / entry point housing is in a crisis with no real solution in sight
- New construction and lot development face significant headwinds and are not going to provide needed relief
- Inflation is wreaking havoc on pricing as well
- Mortgage rate predictions
- The difference between 2008 and 2022
- What levels of appreciation to expect
- What could cause the market to crash
And many more …