What Columbus Home Buyers Can Expect in 2022 - Columbus Ohio Real Estate | Buyer's Resource Realty Services

What Columbus Home Buyers Can Expect in 2022

Columbus home buyersColumbus home buyers have faced rising home prices for several years, and the trend is likely to continue in the year ahead. A new report from the National Association of REALTORS lists Columbus among the hottest markets for home demand in 2022. Analysts say that remote workers searching for affordable homes will be drawn to tech hubs in the Midwest.

By the numbers, home prices in the Columbus Metro are estimated to increase by 6.3% in 2022. Home sales activity is expected to increase by 13.7%, with median home prices hovering around $298,523.

Home buyers will also contend with rising interest rates, according to projections from the Federal Reserve. The Fed expects to raise its benchmark lending rate 3 times during 2022, with the first rate hike potentially hitting within 2-3 months. Financial markets have already reacted to the news, causing mortgage interest rate averages to notch higher in December.

Given the late-year trends of 2021, buyers will continue to be challenged by a limited inventory of homes for sale in 2022. For example, between October and November 2021, the number of Franklin County home listings declined by 11.9%. The majority of homes sold during this period sold above the asking price. While some seasonal pullback in listings is normal, there aren’t enough properties on the market to meet demand.

The best way to prepare for a successful Columbus home purchase is to work with an Exclusive Buyer’s Broker! As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services www.BuyersHome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

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