The housing market will see higher interest rates with less competition as 2022 closes, according to Andrew Shader.
FORT LAUDERDALE, FLORIDA, UNITED STATES, June 8, 2022 /EINPresswire.com/ — The housing market has been unpredictable through most of 2022, but homebuyers are now wondering what trends they can expect for the remainder of the year. As an experienced real estate professional, Andrew Shader is making three key predictions that may influence purchases for the next six months as the year comes to a close.
First, homebuyers may have already encountered rising mortgage interest rates over the first half of the year. This trend is likely to continue to the end of December with rates estimated to hit 4.5% in the months ahead.
Projected interest rates are constantly on the rise, and new predictions are pegging them higher than previously expected. While rates are still relatively low, they will not be as low as many buyers have come to expect.
Shader’s second prediction relates to the inventory of homes on the market. There’s been an influx of homes priced at $500,000 or more, and they may be easier to purchase than their lower-priced counterparts.
Homes with lower purchase prices are flying off the market, but Shader is predicting that pricier homes will take their time disappearing from the real estate listings. Buyers will have more opportunities to think through their purchase decision instead of rushing to put in an offer before the home is taken off the market.
Last but not least, Andrew Shader predicts that there will be less competition for homes on the market in general. Home appreciation has caused prices to soar on available inventory over the past six months.
With the price rise, homes became less affordable for homebuyers and forced them to put their purchase plans on hold until things started to slow down. As the interest rates and home prices continue to rise, prospective buyers may have to press pause on their purchases over the next six months.
In addition, home appreciation may slow down, though buyers can still expect a rise in the overall purchase price of their dream home. It will settle at a more typical rate of appreciation toward the end of the year.
According to Andrew Shader, the real estate market is set to go through some major shifts as the 2022 year comes to a close. From rising interest rates to increased home prices, would-be homebuyers need to prepare before coming into the market.
Purchasing a house may be less accessible over the next six months, but competition will be less fierce.
About Andrew Shader
Andrew Shader is an entrepreneur and real estate investor in the sunny Florida city of Fort Lauderdale. He specializes in value-added properties, where he is known to increase value by up to 60% without future appreciation. He provides innovative solutions and long-term plans to increase the value of his properties.
When away from his real estate investments, Shader enjoys spending time with friends, playing sports, and reading.
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Article originally published at https://www.einpresswire.com/article/575944729/andrew-shader-makes-3-housing-market-predictions-for-the-next-six-months-of-2022