2022 Predictions: Get the Edge with Matthew Gardner Recap
I don't like to trip up on the past and I certainly do not like to get too ahead of myself and trip up on the future. When it comes to future predictions by Matthew Gardner, Chief Economist for Windermere Real Estate, I make an exception. I recently attended the Seattle King Country Real Estate Agent annual Get the Edge event and I took away a few pieces of wisdom that I think will be helpful for buyers, sellers and other Real Estate Agents. Here's a quick recap of Gardner's predictions:
Demand & Prices
Demand will continue to rise but prices will not. That does not mean that prices will go down. It only suggests that prices will not continue to skyrocket the way that they have been that last 1+ years.
The Kids Are Alright
Millennials represent the largest group in the market. Go us! They will likely need a zoom room, Peloton room, and maybe even a dog shower, you know, the little (yet important) things in life! *Fellow Real Estate Agent if you are reading this, be prepared for a lot of thoughtful questions; the millennial group also represents a large portion of the first-time home buyer group so do not assume they have been through a purchase and sale process before because they haven't. Be ready to roll up your sleeves!*
Rise of the East
Bellevue will continue to boom. Kirkland as well. There are a lot of tech companies moving to the East side and many of their work force will be moving in as well. Suburbs are likely to make a comeback also. Didn't see that coming? Many employees working part-time at home and part-time on-site are willing to trade longer commute times for more space inside and out.
Myth Busters and Surprises
- No housing bubble burst on the horizon.
- Thought urban condos were gone? Think again!
- With demand for more rooms for in-home offices and gyms, open concept living is being traded for homes with a segmented style. Not sure about this one so I'm curious to look back and check this prediction.
Altogether 2022 is looking bananas you guys. There will be a lot of activity and though it may not look exactly like 2021, it will still be busy. For those of you looking to buy or sell, please take some time and interview Real Estate Agent and find one that is thoughtful, energized, and passionate about helping you. It's vital to stay informed on what's going on in the market and while I do not expect you to stay on top of every piece of it, you should expect your Real Estate Agent to. 97% of Americans say that home ownership is their largest investment. The trust you place in your Real Estate Agent is worth a whole lot. Chat soon!
