Tempe, AZ - Avery Gilmer, a real estate wholesaler and investor, has announced a report called the 2022 Housing Market Year in Review. The report highlights that the year 2022 was marked by a remarkable housing market as the ongoing pandemic and resulting remote work continued to impact the way people bought homes. Despite the challenges posed by the pandemic, the median U.S. home price reached a record high before falling slightly, reflecting the high demand for housing in many parts of the country.

Rising rents were also a significant concern for many renters, putting increased pressure on their budgets. Meanwhile, high inflation had a widespread effect on the housing market, as well as the wider economy, as it continued to rise at a record pace. In response to the inflationary pressures, mortgage rates doubled in the span of just one year, reaching nearly 7% in 2022.

According to the report, the housing market in 2022 was also characterized by a number of key trends and developments. San Francisco was identified as the most expensive metro area for homebuyers in 2022, while Detroit was the least expensive. The report also found that homebuyers looking to relocate favored Sun-Belt cities, reflecting a shift in housing preferences among many buyers.

In terms of housing inventory, the report found that levels rose after hitting a record low, with new construction taking up an increasing share of the market. The months of housing supply, on the other hand, remained near-record low at just 1.2 months, reflecting the ongoing challenges posed by low inventory levels.
In conclusion, the 2022 Housing Market Year in Review highlights the key trends and challenges that defined the industry over the past year. Despite the ongoing challenges posed by the pandemic, the report demonstrates that the housing market remained robust, with many areas experiencing high levels of demand and rising prices. Moving forward, the report provides valuable insights and data that will help industry professionals and policymakers better understand the direction of the housing market in the years to come.

About Avery Gilmer
Avery Gilmer, who is widely regarded as one of the leading experts in the real estate industry, emphasized that the report provides a comprehensive overview of the key trends and developments that will define the housing market in 2022. He added that the report is an essential resource for anyone interested in staying up-to-date with the latest industry trends and insights. For more information about Avery Gilmer, please visit https://averygilmer.com/.
Contact:
Avery Gilmer
64 E. Broadway Rd Ste. 200
Tempe, AZ 85282
Averygilmer.com