Interested in Your Own Personally Branded Magazine? Click Here!

Want to customize this content for your business?

Learn More

Categories

  • Home
  • Decor
  • Real Estate
  • Life & Culture
  • Food & Recipes
  • Holiday & Entertaining

  • Printables
  • Videos


General

  • About the Magazine
  • Advertise
  • Copyright
  • Privacy Policy
  • Cookie Policy
  • Careers


Editorial

  • Editorial Calendar
  • Issue Archive
  • Contact Us
  • Pitch an Idea

American Lifestyle Magazine Logo
  • Home
  • Decor
  • Real Estate
  • Life & Culture
  • Food & Recipes
  • Holiday & Entertaining
  • Search
  • Follow
  • 0 Heart
  • |
  • Food & Recipes Categories
    • All Recipes (772)
    • Appetizers (143)
    • Breakfast (64)
    • Cooking Tips (42)
    • Desserts (222)
    • Dinner (231)
    • Drinks (59)
    • Gluten Free (10)
    • Healthy (70)
    • Lunch (12)
    • Quick & Easy (65)
    • Vegan (38)
    • Vegetarian (55)
Dinner | Sep 15, 2023

Louise’s Upside-Down Chicken

  • Holiday & Entertaining Categories
    • Celebrate (2)
    • Christmas (84)
    • Easter (16)
    • Entertaining (46)
    • Fall (19)
    • Father’s Day (6)
    • Halloween (28)
    • Hanukkah (17)
    • July 4th (37)
    • Mother’s Day (8)
    • New Year’s (24)
    • Spring (20)
    • St. Patrick's Day (11)
    • Summer (30)
    • Thanksgiving (41)
    • Valentine’s Day (5)
    • Winter (20)
Fall couch
Decor | Sep 4, 2023

The Right Way to Design for Fall

  • Decor Categories
    • Crafts & DIY Projects (286)
    • Curb Appeal (6)
    • Decorate (88)
    • Interior Design (102)
Photography by Michael Partenio
Interior Design | Sep 22, 2023

A 1940s Home Restoration

Marie Burgos home redesign
Interior Design | Sep 12, 2023

California Dreamin’

Modern dining room
Interior Design | Sep 5, 2023

A Dining Room Design Guide

  • Real Estate Categories
    • Buying & Selling (195)
    • Home Trends (21)
    • Staging (22)
    • Your First House (38)
Buying & Selling | May 15, 2023

America’s Best Cities

Staging | Feb 13, 2023

Put Your Best House Forward

Decor | Nov 14, 2022

Design Trends to Follow in 2023

  • Life & Culture Categories
    • Editorial (316)
    • Family & Pets (219)
    • Finances (37)
    • Health (159)
    • Travel (266)
Men building with wood
Health | Sep 25, 2023

Sweet Dreams

Chairoplane
Travel | Sep 19, 2023

Where to Celebrate Oktoberfest This Fall

Travel | Sep 18, 2023

Melding Art and Nature

  • Home Categories
    • Cleaning (46)
    • Organizing (50)
    • Home Improvement (125)
    • Outdoors & Gardening (91)
Photography by Michael Partenio
Interior Design | Sep 22, 2023

A 1940s Home Restoration

Marie Burgos home redesign
Interior Design | Sep 12, 2023

California Dreamin’

Two children returning home from vacation with luggage
Travel | Aug 9, 2023

Get Organized After a Summer Getaway

Follow us on social media today!

Facebook Twitter LinkedIn

2022 Mid-Year Examination of the Housing Market

Real Estate | By Allison Gomes | 0 Likes
SHARE
Facebook Twitter LinkedIn More

This year has turned out to be an interesting time for the housing market. From an increase in housing prices to a decrease in days on the market, the market has been tricky to predict, leaving many to question their path into homeownership.

The National Association of REALTORS® (NAR) releases monthly reports on the sales of existing homes and surveys of transactions during that month. This data gives a snapshot of market trends and what homebuyers and sellers can expect. Here you’ll find an examination of a few key findings and what this could mean for you.

House prices are higher

In June 2022, NAR reported that the median price for all existing homes was $416,000, making this the 124th consecutive month-to-month increase. Out of all the houses sold, 43 percent fell in the $250,000 to $500,000 range, with the next highest group being $500,000 to $750,000 at 20 percent.

What this means:

For homebuyers, it’s important to get prequalified and preapproved for a loan before you begin your housing search. This will give you an idea of the type of mortgage you can realistically afford, allowing you and your real estate agent to make the most of your search for your next home. For sellers, you’ll want to work with your agent to price your house according to the current housing market. This will help during the appraisal process, which determines whether or not your house is being sold at fair market value.

There are more houses on the market

As of June 2022, there were 1,260,000 properties listed for sale. This is a 9.6 percent increase from the previous month, combatting the growing concerns of a housing shortage. On average, there were 3.4 offers per home for sale, down from 4.2 the previous month. However, one reason for this increase in properties available comes from the decrease in total sales. Homes sold dropped by 5.4 percent from the previous month as more homes are sitting unsold due to the continuous rise in mortgage rates—ranging from 5.08 to 5.81 percent for a 30-year fixed rate mortgage—and housing prices overall.

What this means:

If you’re looking to buy this year, take advantage of the increase in houses on the market. There’s a little less competition for individual properties as buyers now have more options available to them. If you’re selling your home, work to make your home stand out from others. Stage it in a way that allows buyers to picture themselves in your home. Also work to increase your home’s curb appeal since this can help get more potential buyers through the door.

Houses are selling faster

In June, properties for sale remained on the market for an average of fourteen days, which is down from sixteen days in the previous month. Houses are selling faster this season, spending the fewest days on the market since NAR started tracking in 2011, and 88 percent of homes sold within the first month of listing.

What this means:

For homebuyers, don’t waste time when you’re searching for your home. Let your real estate agent know exactly what kind of property you want, and they’ll show you what they think fits best. View properties you’re interested in as soon as possible. Be sure to have your finances lined up so that when you find the right home, you can put in an offer that you’re able to back up. For sellers, it’s important to know that once your house is for sale, it’s likely that it will go faster than you thought. You’ll want to ensure that you are ready for a quick move by having your next property lined up, and ensure you can get all your belongings packed up and moved by closing day.

With the help of a skilled real estate agent, you shouldn’t be too concerned about navigating this current housing market. There are still plenty of opportunities to find your dream home or sell your home for a satisfactory price.

8082 Views

This article is tagged in:

2022Home BuyerHome SellingHousing MarketMortgageReal EstateReal estate market

Related Posts

Real Estate | May 15, 2023

America’s Best Cities

Real Estate | Feb 13, 2023

Put Your Best House Forward

Life & Culture | Dec 23, 2022

A Look Back at Inflation in 2022

Real Estate | Sep 23, 2022

How to Shop for a Home Loan

Real Estate | Sep 21, 2022

Tips for Preventing Homeowner Identity Fraud

Popular Posts

can-planters-card
Decor | Mar 25, 2020

Make Your Own Can Planters

Home | Jul 8, 2021

Tips for Redesigning Your Patio Space

Life & Culture | Feb 17, 2020

Trash vs. Recycle: Do You Know When to Trash it?

spring-cleaning-countdown
Home | Mar 23, 2021

Spring-Cleaning Countdown

Real Estate | Dec 14, 2017

House Selling Checklist

You may also like:

can-planters-card
Crafts & DIY Projects | Mar 25, 2020

Make Your Own Can Planters

Outdoors & Gardening | Jul 8, 2021

Tips for Redesigning Your Patio Space

Health | Feb 17, 2020

Trash vs. Recycle: Do You Know When to Trash it?

spring-cleaning-countdown
Cleaning | Mar 23, 2021

Spring-Cleaning Countdown

Buying & Selling | Dec 14, 2017

House Selling Checklist

Make Your Own Seed Paper
Crafts & DIY Projects | Mar 17, 2016

Make Your Own Seed Paper

home office with white furniture
Health | Mar 30, 2020

Here’s How to Work From Home Effectively

Share on Social Media

Our mission is to deliver entertainment that inspires and motivates our readers, encouraging them to follow their passions as they explore new horizons.

© 2023 American Lifestyle Magazine

General
  • About the Magazine
  • Advertise
  • Copyright
  • Privacy Policy
  • Cookie Policy
  • Careers
Editorial
  • Editorial Calendar
  • Issue Archive
  • Contact Us
  • Pitch an Idea
Categories
  • Home
  • Decor
  • Real Estate
  • Life & Culture
  • Food & Recipes
  • Holiday & Entertaining
Follow Us
Facebook Pinterest Instagram Youtube

Customize this content for your business!

Learn More

,