If you're one of many would-be homebuyers who got shut out of the real estate market last year, you might be hoping for better luck in 2022. This is what to expect.
The good news is that you probably won't see the jaw-dropping jumps in home prices seen last year. But prices are still expected to go higher and mortgage rate hikes are anticipated, too. The housing market had the strongest showing in 15 years in 2021, sending home prices through the roof. Prices skyrocketed nearly 20% through the third quarter compared to a year before, according to the Federal Housing Finance Agency.
" But this year, the housing market is expected to return to its normal seasonal cycle, with more homes coming on to the market in the spring, then tapering off throughout the summer. But competition will remain stiff: Experts say buyers -- many of whom have been putting offers on homes since last spring -- will continue to come in hordes, at least for the first part of the year.
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