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Christmas and New Year’s Day both fall on a Saturday this year which ties a bow on a full year. 2021 has not only been 2020 version 2.0, but has brought its own surprise twists and turns. With the start of a new year around the corner, we are excited, hopeful, and encouraged looking at 2022 ahead. We are in a business that allows us to meet, help, and guide people through big moments in their lives.
This holiday season, our office KALEO Real Estate Company has opened escrows and closed deals right up to Christmas Eve. Many home buyers and sellers have a “why keeping waiting” attitude. Why wait to move out of state? Why wait to buy your first home? With so much economic uncertainty and unknowns on the horizon, hope can be found in making a house a home.
November housing statistics are in and they include inventory levels at their lowest rate since April 2021. The California median priced home came in around $780,000 down from highs over the $800s. The time on market was 11 days, still shockingly low, but higher than this time last year.
“California’s winter housing market remains unseasonably resilient, despite market challenges of a lack of inventory, modest interest rate increases, and ongoing affordability issues,” C.A.R. Vice President and Chief Economist Jordan Levine said. “While we believe the market will continue to do well in 2022 as the economy further recovers, a widening imbalance between supply and demand will put upward pressure on prices and create headwinds for housing affordability that could slow sales in the upcoming year.”
What are you looking forward to in 2022?
We wish you the happiest New Year’s Eve and a successful 2022!