As the year 2022 closes, we all are somewhat relieved it’s over, yet cautious about the year ahead. We can expect higher interest rates and only a modest supply of homes, at least in the first months of the new year. Some homebuyers can no longer afford what they thought they could, but price reductions have also brought prices in line with what buyers can pay. The stock market will continue its price volatility and workers will make decisions about whether to return to the office, especially with the new surge in viruses.
But there is good news too. People are ready to return to their lives before Covid, and this should make 2023 a year of recovery. Best wishes for the holidays and in the New Year.