2021 is officially behind us and it is on record as a monumental year in real estate. In fact, we've had the highest number of sales that we've had in the last 15 years. On average, the median sales price of a home in the United States is up 15%. The National Association of Realtors, Chief Economists, Dr. Young has predicted that in 2022, we're going to see on average 2.8% growth.
Here in Los Angeles, things are still going to be a little crazy. What we know is that even though there is lots of talk on how people are fleeing California. There's a lot of crazy stuff in California, but guess what? There are still not enough homes for sale.
A lot of people who enjoy the sunshine and the beaches, they’re not going anywhere. We need more houses for those people and what I am predicting here in California is that we're still going to see a strong market.
If you own a home in California and you are thinking of leaving, I wouldn't gamble too much longer on selling in California. I think that we're going to maintain a strong market with steady growth over the next one to two years. And who knows what's going to happen after that, but if you're looking to capitalize on this market, whether it's selling and leveraging your equity or getting into the market to take advantage of these low interest rates, nothing good lasts forever. Eventually interest rates will go up and the market will adjust, and we will get a normal market, but we're not there right now.
Final thoughts, don't be greedy if you're a seller and if you're a buyer, you need to take advantage of this now.
Agree or disagree, let me know what you think. If you have any questions or you want to start a conversation, let’s talk
Don’t forget to catch up on my weekly show, Taya’s 2 Cents
, where share my two cents on different real estate topics from buying and selling real estate, owning a home and more.