The housing market has shown homebuyers both fierce love and abuse throughout 2022. At the start of the year, offering anything other than twenty thousand above asking was seen as an insult to a seller. Now, the seller is offering you a foot massage on your way into their open house. But we’ve known about this for months. Rising rates paired with home prices that are still (arguably) too high have made homebuyers think twice about buying in the first place. But is this true in every real estate market?
We brought on two agents, both in very different markets, to get their take on whether or not the housing market has finally flipped. Niyi Adewole, Atlanta-based investor and real estate agent, spent the last couple of years helping himself and his clients build bigger portfolios. Ryan Blackstone, northwest Arkansas-based investor and realtor of our very own Henry Washington, has seen buyers start to bounce from his market, but not close to as fast as most would expect.
Both these expert agents share exactly what’s happening in their real estate market and how buyers, sellers, and investors should prepare if they want to make moves in the next year or two. While Niyi and Ryan have different clientele, they’re coming to the same conclusions about where the housing market is headed, with extremely useful advice no matter where you stand right now.
Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.