Whiteboard Topics: 5 Things To Know About Lake Real Estate In 2022

Real estate is ever-changing, so it’s important to know what to look out for in the coming year. Lake Homes Realty’s CEO, Glenn Phillips, shares five things to know about lake real estate in 2022.
  1. Mortgage Rates: Although more than half of lake property transactions are cash, mortgage rates have been so low, that having a mortgage has become a cheaper option. Due to inflation, these rates will start to rise, causing buyers to shift back to cash deals.
  2. Inventory: There will continue to be a shortage of appropriately priced homes on the market and there is no sign of this stopping as the new year approaches.
  3. Buyer Demand: Buyer demand will continue to hold strong because there are still more people buying homes than selling them. 
  4. Bidding Temperature: Heavy bidding will still take place, but it won’t be as ‘super-charged’ as it was in 2021. Some bidding is inevitable because of low inventory.
  5. Distance: Out-of-state buyers are already common among lake property transactions, but this trend will continue to grow throughout the coming year.
No one knows exactly what the future holds, but it’s clear to see where lake real estate is heading in 2022. Make your dream lake home a reality this new year with these real estate tips!

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