Spring 2022 Housing Market

Spring 2022 Housing Market

By Tammy Dufault

The 2022 spring market could be challenging but the skills and knowledge of an experienced realtor will make it easier to navigate for buyers and sellers.

Affordability and the work-from-home environment will continue to play important roles in influencing buyer activity in spring 2022. The timing of the school year will as always be a significant factor for families choosing to move, as summertime is ideal when children are out of school. Typically a purchase or sale for families will happen in the spring to line up moving in the summer. 

Housing supply has been at extreme lows for some time. Most likely this pattern will continue with higher demand and not a lot of supply. With that in mind, the best strategy for buyers is to be well prepared.

As a buyer, you need to understand your finances. Talk to a mortgage broker. Know the area you want to be in and your price range. Decide on the details of a property that really matter to you before you begin your search. Move on new properties quickly as they become available, and ensure that you have access to deposit funds in the event of an offer. 

For sellers, the current market is definitely a sellers market, however you still need to follow some important steps when listing your property for sale. Professional photography, staging and cleaning are essential to getting an advantage for online marketing. A current home inspection report is also a great benefit for added transparency and information for potential buyers. Buyers will narrow down their choice of homes online so it is crucial to have a good online presence.

If you are thinking of buying or selling a home this spring, I can help you with expert advice and guidance for the real estate market in Sault Ste Marie.