New Homes Market Predictions For 2022

 

New Homes Market Predictions For 2022

Industry experts predict that there will be a boom in home building as we move into 2022. The National Association of Home Builders Sentiment report measures how builders view the housing market in terms of current demand and future demand. A score above 50 indicates a favorable outlook. In May of 2021, builders' confidence was measured at 83! 

Lumber prices remain high, but prices for some building materials are predicted to stabilize in early 2022. Approximately 1.2 million homes need to be built to service the current demand in the U.S. The Mortgage Bankers Association (MBA) expects 2022 single-family housing starts to hover around 1.13 million. That’s good news if you are in the market for new construction! Projections in the future are even more optimistic.

New home buyers may need to shop a little longer to find just the right home. Many buyers are expanding their location search due to the ability to work remotely. 

TREG’s New Home Division is committed to serving our clients at the highest level, regardless of their needs, and pairing them with the right builders, right communities, and right homes for their lifestyle. If you want to work with the local pros, then there’s one clear choice, we’re a Hampton Roads Original® and we love where we live. Contact us today to see how we can help you make your new home dreams a reality!

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