OC Housing Report: Will it Slow in 2022?

WILL IT SLOW IN 2022?

Housing has only grown hotter despite mortgage rates rising considerably since ringing in a new year, indicating it will take further changes for the market to slow.

If mortgage rates rise above 4% and remain elevated with staying power, then housing will finally slow a bit, shifting from an Insane Seller’s Market to a regular Hot Seller’s Market with longer market times.

For the market in 2022 Mortgage rates cannot substantially drop from here. They must persist at these higher levels, between 3.75% and 4%, and then eventually climb above 4% with staying power. If that occurs, as more homes come on the market during the spring and summer, demand will be muted, and the inventory will substantially climb for the first time in 3-years. Higher rates must endure for that to occur.

Below is a Snap Shot of the current OC Housing Report: Will it Slow in 2022?

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