- Low inventory has been a longstanding problem
- Multiple offers have driven up home prices
- Home builders can’t keep up with demand
Source: Why Is the U.S. Housing Market So Out of Whack? What Homebuyers Need to Know Right Now (realtor.com®, Sep. 20, 2021)
NAR has created a Coronavirus information page for you with up to date information.
Can machine learning predict when you will sell your house? A new whitepaper says it can, 50% of the time. Realtor.com makes its prediction for the 2022 housing market.
Due to supply chain issues, buyers are favoring fully furnished homes, which sell at a premium. Today’s home buyers want a dedicated office space. ‘they also want information on Internet providers, download speeds and fiber connections. Can you provide that information to tech-savvy customers?
CNBC offers tops for buying a home next year. Co-buying a home is a new trend. Motley Fool discusses if this is right for you. Should you put your home on the market in Spring 2022? Bob Vila says yes, in consultation with your REALTOR®.
See References for more information.
NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.
Coronavirus and REALTORS®
The National Association of REALTORS® is aware that REALTORS® and consumers will be forced to change their business, buying, and selling habits in the midst of the Coronavirus pandemic. We know that there is an overwhelming amount of news and advice being circulated, and new information to process every day. To make sure our members have the most up-to-date information as possible, we have created a Coronavirus page, which can be accessed at https://www.nar.realtor/coronavirus.
Adjusting Your Strategies in a Changing Market
Big Brother's Watching…For You to Sell Your Home (Mortgage Professional America Magazine, Dec. 3, 2021)
Sivert said it was now possible to predict when a home was going to sell with 50% accuracy, adding that predictive modeling could look as far as 180 days ahead.
Will Home Prices and Rents Finally Fall? Our Bold Predictions on What’ll Happen in Real Estate, 2022 (realtor.com®, Dec. 1, 2021)
Realtor.com economists predict the number of homes for sale, which is hovering around record lows, will tick up only 0.3%. That’s partly due to builders having a tough time ramping up construction as they contend with shortages in workers and materials, compounded by the global supply chain backups. (Single-family housing starts, which is when builders start construction, is expected to rise only 5% next year.)
Is iBuying Here to Stay? (The New York Times, Nov. 19, 2021)
“It’s a new way to liquidate a house,” Mr. Kelman said, “and a tiny fraction of customers are going to buy or sell a house that way.” But iBuying has been influential enough that many sellers are curious about it — even professional home flippers.
Will Real Estate Ever be Normal Again? (The New York Times, Nov. 15, 2021)
Then there’s the role played by investors and speculators. Large corporate and Wall Street landlords, like Invitation Homes, American Homes 4 Rent, BlackRock and Blackstone, are arguably the most toxic players, driving up rents in the select markets they saturate, lobbying for corporate tax cuts and fighting tenant protections.
Working With Clients
Climate change and Real Estate: The New Calculus for Homebuyers (CNET, Nov. 4, 2021)
"Location, location, location." This real estate cliche about buyer priorities has the ring of truth. But experts believe that over time, "sustainability" -- a related but distinct trait -- may become the most sought-after feature.
With Supply Chain Issues Causing Delays, Buyers Are Willing to Pay a Premium for Fully Furnished Homes (Mansion Global, Oct. 22, 2021)
“We have several units in the same lines, and the ones that are furnished with all the details are selling for 15% to 30% more than the unfurnished ones,” said Edgardo Defortuna, CEO and founder of Fortune International Group in Miami, developer of the Brickell City Centre development. “Even though prices significantly increase when the units are furnished, people are buying them.”
Homebuyers Are Baffling Real Estate Agents with High-Tech Home Office Wishlists (Money.com, Oct. 13, 2021)
While home office requests can be difficult to fulfill, for real estate agents, the biggest hurdle may be the tech-related questions that come with them. “I have never had so many people ask me to get download and upload speeds,” says Trenton Hogg, a Redfin agent in Chanhassen, Minnesota. “It’s really quite technical. Those aren’t things I just have on hand.”
Tips for Buyers and Sellers
Aiming to Buy a Home in the Next Year? Do These 4 Things (CNBC Make It, Dec. 2, 2021)
“When buying a home in the next year or longer, it will be important to watch new listings, including ‘coming soon’ listings, and be very prepared to not only visit the home quickly, but prepare to decide and extend an offer almost immediately,” says Phillips.
How Risky Is Co-Buying a Home? (The Motley Fool, Dec. 1, 2021)
Co-buying a home can be a great way to get out of the rental market sooner than you otherwise may have so that you can start building equity and not be at the whim of rent increases. But it comes with a fair amount of risk when entering into a partnership with someone. Making sure to check all of your bases prior to buying, creating a solid agreement between all parties, and having a backup plan just in case a disagreement or unexpected situation arises will keep both co-buyers safe.
Why Spring 2022 Will Be a Great Time to Put Your Home on the Market (Bob Vila, Nov. 29, 2021)
Andrew Bennet, Real Estate Broker with Haystack Realty Group in Greenville, North Carolina, expects that trend to continue next year. “This is certainly a seller’s market right now and will continue through all of 2022, not just the spring,” Bennet said. This is good news for sellers who might have to wait until later in the year to list their homes.
Here's Why You're Getting Offers to Buy Your House—Even When It's Not for Sale (Better Homes & Gardens, Nov. 16, 2021)
On the other hand, offers from an individual (or real estate professionals acting on their behalf) typically align with a traditional on-market selling process. "These offers are usually prequalified," says Eileen Lacerte, a broker in Kamuela, Hawaii. "In many cases, they are cash buyers or at least have a pre-qualification letter from a lender." Lacerte also notes that these offers are more likely to meet fair market value for the property.
Is Listing Your Home During Holiday Season a Good Idea? (The Motley Fool, Nov. 15, 2021)
Although there are also typically fewer buyers during the holidays, it's still very much a seller's market right now. And of the buyers who are looking during the holiday season, many are serious about making an offer and not just looking, particularly those who've been trying to purchase for months and have lost out in the bidding wars that often break out when new properties come on the market.
eBooks & Other Resources
The following eBooks and digital audiobooks are available to NAR members:
The Altman Close (Audiobook)
Positively Resilient (eBook)
Housing Downturn (eBook)
The Upside of the Downturn (eBook)
Surviving a Downturn (eBook)
Thrive on Pressure (eBook)
Timing the Real Estate Market (eBook)
Books, Videos, Research Reports & More
The resources below are available for loan through the Library & Archives. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the library for a nominal fee of $10. Call the Library & Archives at 800-874-6500 for assistance.
Heart and Sold: How to Survive and Build a Recession-Proof Business (New York, NY: Atria Paperback, 2009) HD1382 .F58 2009
The Housing Downturn, Picking Up the Pieces: A Guide for Estate Agents and Developers (London: Estates Gazette, 2009) HD598 .N67 2009
Shift: How Top Real Estate Agents Tackle Tough Times (New York, NY: McGraw Hill, 2009) HD1375 .K367 2009
All Real Estate is Local: What You Need to Know to Profit in Real Estate – in a Buyer's and a Seller's Market (New York, NY: Currency Doubleday, 2007) HD255 .L464 2007
Prepare to Profit: Your Guide to Creating Wealth in any Real Estate Market (Murietta, GA: TamTam Press, 2007) HG 4521 Al2
Real Estate Millions in Any Market: the Lowdown on No-Down Investing (Hoboken, NJ: John Wiley & Sons, 2004) HD255 .E3713 2004
Have an idea for a real estate topic? Send us your suggestions.
The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.