Here’s how our real estate market is doing at the beginning of 2022.
What’s happening in the real estate market in 2022? San Antonio is one of the hottest markets in the U.S. Our friends at Zillow have determined that the top five hottest cities for 2022 are Tampa, Jacksonville, Raleigh, Charlotte, and San Antonio. Austin was No. 1 last year, but they’re No. 10 this year.
Some of the cities that are higher on the list may be there because they have state income taxes, which means their property taxes are a little lower. As you likely know, Texas doesn’t have state income taxes, meaning our real estate taxes are a bit higher. People are moving to many of the cities on the list this year for either work or retirement, so job opportunities, weather, amenities, and cost of living are likely great in these cities.
Recently, interest rates have increased a little; they’ve risen half a percent, so we’re up to about 3.25%. That means if you’ve been considering selling, now is the time because as rates grow, more buyers are priced out of the market. Half a point in rates makes a difference in whether someone can buy a house or not.
We just had a listing go onto the market in the $650,000 range, and it was under contract in 12 hours. We can’t promise those same results for you because all markets and houses are different, but there’s still very strong buyer demand, and inventory is low. If you’re thinking about selling, don’t wait.
If you have any questions or want to get your house on the market, call or email us, your local experts. Let us help you make a move in 2022.