Birmingham Real Estate Market Overview ~ February 2022
Check out what homes sold recently in the local Birmingham, Michigan real estate market in this local overview of February 2022 residential home/condo sales. For many buyers, 2022 marks a new opportunity to make their home purchase dreams a reality. But it won’t be without its challenges. National inventory of existing homes was at 910,000 at the start of the new year, the lowest level recorded since 1999, according to the National Association of REALTORS®, and competition remains fierce.
Affordability continues to decline, as inflation, soaring sales prices, and surging mortgage interest rates reduce purchasing power. The sudden increase in rates and home prices means buyers are paying significantly more per month compared to this time last year, which may cause sales to slow as more buyers become priced out of the market.
For more information on listing your home (or buying in the current market), rely on Amy and Tiffany to navigate your real estate sales and purchases from “luxury estates to leases”! We have the experience to assist you at any price point. Be assured you are making the best choices when buying and selling with us. Give Amy Zimmer & Tiffany Glime at Hall & Hunter Realtors a call to start your home buying or selling today and move with confidence!
📱 Amy 248.469.6430
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