The disruption caused by the still-ongoing COVID-19 pandemic is still being felt in real estate markets across the country – but thankfully, with vaccines rolling out and things returning to “normal,” everything seems to be settling back down.
What this ultimately means is that for buyers agents, 2022 is likely going to look a bit different than 2021 or even 2020 – but not necessarily in the ways you might expect. All told, there are a number of important trends that buyers agents need to look out for as we head into the new year – ones that will help them serve their clients better than ever.
What 2022 Has In Store For Real Estate
Experts agree that while nobody would call the upcoming 2022 housing market a “buyer’s market,” it will start to become more buyer friendly than we’ve seen in the last few years. This is thanks to both the fact that mortgage rates and financing opportunities will stay at their current levels, and inventory on the market is slowly starting to rise from the incredible lows that we’ve seen in recent memory.
Because of this, buyers will have more options when it comes to owning a home – and they’ll be pitted against each other less frequently than they are right now. It’s easy to see a situation where houses sit on the market a bit longer than they currently do and buyers have more time to make such a big decision as opposed to now where they typically have to act as quickly as possible.
Another important trend for buyers agents to be aware of has to do with the massive influx of Millennial buyers that are about to enter the housing market for the first time. According to another recent study, people in this age bracket make up the fastest-growing segment of buyers right now – and that is a trend that shows no signs of slowing down anytime soon.
This will increase the demand for technology to become a more organic part of the buying process than ever. Millennials are nothing if not tech-savvy – meaning that they’re very comfortable viewing homes online or using apps to find available properties in their area. They’ll probably prefer text-based communication to phone calls with agents, and they’re already familiar with digital forms and eSignature capabilities.
As this happens, buyers agents are going to need to make a subtle shift that may represent a departure from the way they’re used to doing things. Millennial homebuyers value this technology integration which means that buyers agents need to as well – especially if they want to attract the attention of the largest audience possible.
If you’d like to find out more information about all the top trends that buyers agents need to be aware of as we move into 2022, or if you’d just like to learn more about other important industry-related topics, please don’t delay – contact Simple Title today.