Buying and selling a home in 2022 is fraught with pitfalls–there is a pronounced imbalance between supply and it is pricing many buyers out of the market. 

Home listings are reaching new, often unattainable heights. Home sellers who have had the upper hand since 2020 are facing more competition as the number of new listings on the market has grown significantly in the past 18 months.

Many sellers in 2022 are searching for a new home while their current home is on the market, making the daunting task even more challenging. Even though sellers can count on record-high equity when selling their house, the trade-off is dealing with a higher price tag on their next home.

Who Exactly Is Being Affected? 

Many current home sellers and buyers are young and need bigger living spaces for their growing families. In today’s real estate market, Millennials comprise the largest group of seller-buyers active in this year’s market at 47%. Gen Z makes up 25% of real estate transactions, Gen X comes in with 15%, and Baby Boomers account for 12%. 

What Are The Main Concerns?

It’s no secret that volatile interest rates are affecting the housing market in extreme ways. Current homeowners who are looking to move are concerned about the logistics of financially managing both transactions. They are also uneasy about skyrocketing prices and mortgage rates. About a third of sellers and buyers hoping to sell their current home and purchase their next are worried about the ramifications of vacating a home and seamlessly taking possession of another. 

What Are The Solutions? 

Sellers and buyers have several options that can make their transactions go as smoothly as possible. Finding one agent to take care of both transactions is the tactic most sellers and buyers are utilizing. However, a couple of popular choices include finding a real estate company that offers cash for your home on the spot or moving into a rental until your old home sells.

Don’t Navigate This Type of Market Without Us! 

Housing markets are still plagued by the low supply of available homes on top of inflation and increasing mortgage rates. In this shifting housing market, you need a real estate team that has the systems and guarantees to help you navigate through the process of selling and buying a home. There is no one better to help you than us! We will Guarantee to sell your home for a price we agree on or we will buy it! We also offer our Stay in Your Home Program, where you can sell and stay in your home for up to twelve months until you figure out your next move. Call us now at 804-486-7388 to find out more details!