Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA
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How is the housing market looking in 2022 ?
December 22, 2021

The housing market for 2022, group of experts predict that annual home prices will increase 5.7% and inflation will rise 4%. Slower growth in home prices, decelerating inflation. and multiple interest rate hikes by the Federal Reserve could contribute to a more housing market in the new year. National Association of Realtors chief economist Lawrence Yun and a survey of 20 leading economist.

However, the Biden administrationsBuild Back Better planoffers several programs that have the potential to increase housing access for all. The bill provides $10 billion in down payment assistance for first-generation home buyers, $24 billion for housing choice voucher rental assistance, and $15 billion for the Housing Trust Fund to build and preserve over 150,000 affordable homes for low-income households. Our programs are about unlocking possibilities, said Richardson. Support is needed most for housing in low- to moderate-income communities.

Commercial experts offered their predictions for 2022:

  • Multifamily:Rents will likely continue to increase, though part of that accounts for a continued correction from the declines in 2020. Rental units, like single-family homes, are in short supply, and ramping up construction could alleviate some of the strain.
  • Industrial:Despite a drop in cap rates, industrial will continue to thrive, with retailers leasing more warehouse space to hold inventory and manufacturers increasing production in the U.S.
  • Hotels and lodging:Hotels will continue to struggle with a labor shortage that is affecting capacity. The industry needs to get out the message that hotel jobs are steady, provide good pay, and offer upward mobility.

To get the most up to date information about Covid-19 and the help conumer can get regarding energy efficient and the assistance programs including extended moatoriums and much more.

please click on the link below

https://www.cpuc.ca.gov/news-and-updates/newsroom/covid-19

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