What Does 2022 Hold? NAR Asked 20 Experts
Housing prices will climb 5.7% and inflation, while declining, will be 4%. NAR Chief Economist Yun predicts interest rates will rise to a still-low 3.5%.
New-Home Starts Surge 11.8% Higher in Nov.
The jump follows a few months of moderate growth, and both single-family and multifamily improved. Building permits, a sign of future work, rose 3.6%.
DOJ Reaches Record Sexual Harassment Settlement: $4.5M
A N.J. landlord will pay $4.5M to settle DOJ’s lawsuit and an additional $107K civil penalty – the largest amount allowed under the Fair Housing Act.
1 in 5 Buyers Single Women – Twice the Percentage of Men
Single men and women buy homes for the same reason – a desire for ownership – but while 19% of all homebuyers are female, only 9% are men.
Evictions Slowly Rise After Ban Ends
Pundits who predicted a wave of rental evictions after the ban ended were wrong, in part because the process takes time. But evictions seem to be picking up.
Fed Meets: Expect 3 Interest Rate Hikes in 2022
In an abrupt policy shift, the Fed will also stop economy-boosting bond purchases twice as fast as planned, and possibly halt that program altogether in March.
Multifamily Owners Also Holding on to Property
It’s not just single-family owners holding onto homes: Multifamily owners have lengthened their hold periods due to cap rates, inflation and market dynamics.
Citizens’ Board Rejects 8% Rate Hike, Asks for 11%
After the Fla.-owned property insurer’s staff announced its recommendation – an 8% average policy rate increase – the board rejected it and now wants a full 11%.
A Fla. Company’s Holiday Bonus? 2 Free Homes
A/C and plumbing company Mechanical One will hold a drawing and give away two homes next Dec. – a bonus and one-year employee-retention incentive.
No Foreclosure Wave on the Horizon
Of the at-risk homeowners leaving forbearance, 73% have at least 20% home equity – and 28% have at least 50%. They may sell but they can avoid foreclosure.