Housing Market Trends in 2022

30 Dec 2021

Housing Market Trends in 2022

Posted by: admin

Since the onset of the COVID-19 pandemic in early 2020, the housing market has seen a lot of unprecedented highs and lows, and the effects of this were felt by many, regardless of whether they owned their home and were looking to sell. This also includes those currently renting, or looking to rent or buy a new home.

Over the past 2 years, the market has continued to evolve in ways that couldn’t be predicted due to not only the continuing pandemic, but offices world-wide converting to work-from-home setups for the long-term, and for some even permanently. 

Many American workers in 2022 either permanently work in a virtual environment, or have the option to work in a ‘hybrid’ manner, and come into the office as they wish. For those who haven’t gotten to experience this style of employment, remote work has become highly in demand, and the job market is pretty competitive. 

Due to employees not only permanently working from remote locations, but also due to the demand for continually remote work, the housing market has been highly impacted. So what does this mean for 2022? Let’s discover the trends predicted for the 2022 housing market. 

How Remote Work Impacts the Housing Market

As we stated before, the rise and normalization of permanent work-from-home environments has not only changed professional landscapes everywhere, but has also changed the housing market as well. 

Because many individuals are no longer tied to one location for proximity to their job, no longer have to worry about a commute, and also no longer have to even consider their work when choosing a new home or environment, many are choosing to move to places ideal for them, instead of places that are convenient for their work. 

It’s because of this that we saw many leaving dense, crowded cities over the last few years in favor of more affordable areas that offer larger homes or spaces for people’s value, and for places with weather or environments that appeal to those moving. This change in the market is one people had never seen before, and is expected to continue in 2022. 

What to Expect from the Market This Year

In the coming year, what we can most look forward to is an increase in housing inventory, or more homes going up for sale. Due to the volatile nature of the market in the past couple of years, people were less likely to put their homes up for sale, and were looking to wait until the market adapted to the ‘new normal’. 

This seems to be happening more than ever, so sellers are once again starting to sell again. What does this mean for prospective buyers? Though home prices are still on the rise due to the lack of homes on the market, there will be less competition in the future for homes for sale, since there will be more variety. In 2022, the environment will still remain a ‘seller’s market’, of sorts, but prospective buyers can expect more choice, and less battles for available homes. 

If you’re one of the many Americans who are looking to relocate to a space or environment suited to you, rather than suited to your commute, you’re in luck! There are tons of amazing homes out there surrounded by plenty of space (less COVID-related stress, anybody?), plus amazing weather and great things to do. You don’t have to stay in one place anymore!

Looking to give yourself a change of scenery, whether that involves moving into or out of our beloved city of Chicago? No matter what, Chicago Movers has your back for your Illinois move. Our affordable, customizable moving packages are unmatched, and our friendly customer service representatives will always have your back. Check out what we have to offer today!

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