2022, A Year in Review
2022 was a crazy Bipolar market, we had a lot of highs and lows. Below is a quick review of the year.
The beginning of 2022 started very differently than it ended. We started the year with low interest rates, minimal inventory, and rapidly increasing prices, by the end of the year interest rates increased (doubled), increased inventory, and decreasing prices. It is interesting to point out, that although house prices have decreased month over month, house prices are still up year over year.
Below are slides with data showing the median house price for December, median home sale price & year over year growth percentage for 2022. It is also organized by city and county.
Here is the MEDIAN home sales price by city for the month of December. You will notice that this is the month where most cities experienced their lowest median sales price for the year.
This data illustrates the median sales price for the year in each city. Although these number are a decline from the peak in 2022, the median sales price is still up compared to previous year.
This slide illustrates when each city experienced their peak price in median home sales for 2022. You will notice they all had their peak in different months from March to April.
