The frenzied residential real estate market fueled by low interest rates and low inventory looked quite different in 2022.
During the past two years, low inventory and high demand were causing chaos at open houses, leading to long lines and multiple offers within days. Now things are different.Bidding wars. Waiving inspections and appraisals. Waiting on long lines to view open houses.
The residential real estate market was on a tear during most of 2020 and 2021. But things have since returned to a more normal market in 2022 thanks largely to interest rates that doubled and the end of the urban exodus. If you purchase a product or register for an account through one of the links on our site, we may receive compensation.
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