Page 13 - December 2021 Issue.indd

The National Association of Realtors increase is 5%. This data reflects the Association projects an increase in
(NAR) Economic Outlook for August national price increase trend and is not mortgages for purchase of homes to
2021 shows that nationally there was a necessarily indicative of the Eastern increase 7% to 8% through 2023 and the

9.1% increase in real estate prices in 2020 Shore of Maryland and Delaware. Some number of refinances to decline 60% in
and 14.1% price increase is forecasted for housing price points have seen increases 2022 into 2023 as 30-year interest rates
2021, then price increases drop to 4.4% greater than this data indicates. begin a slow climb toward 4% in 2022.

in 2022. In addition, the Federal Housing So, refinance now while rates are lower.
Finance Authority data as reported by What I believe is the most signifi cant
the Mortgage Bankers Association take away from this data is that prices With this being said, what, if anything,
in November shows price increases are not projected to go down in the should you do to determine if what
peaking at 17.4% in the fourth quarter next two years supporting my belief they are willing to pay for a property
of 2021, which is right now, and then that prices are going to reach a sustained is considered reasonable.? How can a

dropping to 4.7% in 2022. Th ey further plateau. This is further supported with motivated buyer be assured that they
project price increase to hover around the imbalance of supply and demand. are not being taken to the cleaners and
5% until 2024. This is encouraging news Too much demand for too little supply paying too much for a house?

from two organizations with a lot of skin will continue to be an issue well into Buyers who need financing to purchase

in the game. 2022 and possibly longer. their home have some protections in
If interest rates remain favorable that the third party to the transaction
Please note that this data represents the
and below 4%, I believe buyers will (lender) will require an appraisal of the
percentage increase in values year over
continue to purchase, especially if rents property that will be used to justify the
year, so that a $100,000 house price will
are so high and there is a shortage of price being paid.
increase by $5,000 if the percentage

quality rentals. The Mortgage Bankers
Annual Customer Appreciation Month at Clothing • Jewelry
Alpacas of Pinney Valley Store Socks • Throws

Scarves
Ornaments

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Looking for a place that’s local and will “wow” everyone Blankets
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on your lists? Then stop on in during the month of Handmade
December to find gifts that will meet everyone’s needs. Armatures
much more
Special Weekend Sale
December 12-13 / 10-3
• Multiple sales
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• Receive ticket(s) to be eligible to win a
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410-443-5842
25689 Garey Rd, Denton
Please call for store hours or to visit the farm.
www.AlpacasOfPinneyValley.com
kbrown@AlpacasOfPinneyValley.com
The alpacas and I wish everyone a safe and very Merry Holiday Season!
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