VIDEO: Your Phone Is About to Catch on Fire

This is what real estate agents can expect from the market in 2022.

Good news, real estate agents: Closings are expected to go up 9% next year! Let’s take a look at the future of our market.

First off, interest rates are expected to rise to about 4% next year. If that’s the case, why are closings expected to increase? The bottom line is that people still need homes. In the 1980s, interest rates were as high as 13%, but people still bought homes. The truth is that a 4% interest rate is still relatively low.

If you’re an agent, expect lenders to blow up your phone in 2022.

Interest rates rising along with home prices isn’t sustainable. Eventually, we’ll see an equilibrium happen where prices rise steadily, but demand still exists.

One thing to keep in mind with 2022 is that the refinancing business will drop by about 62%. This means that if you’re a Realtor, your phone is about to blow up. Lenders will reach out and give you a tired sales pitch about how they are the best lender you’ve ever heard of. However, you should work with a local lender you know, like, and trust.

Make sure you know what you’re getting into next year. If you have any questions about today’s video, please call or email us. We’re always willing to help.