{"id":1298,"date":"2022-03-07T12:45:00","date_gmt":"2022-03-07T20:45:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/rod-rhea-ryan-hayes-neighbourhood-first-quarter-overview-mortgage-rates-increase-stress-test-sales-stock-supply-low-buyers-royal-lepage-sterling-expensive-hot-housing-record-sellers-average-asking-pri\/"},"modified":"2026-04-08T09:24:04","modified_gmt":"2026-04-08T16:24:04","slug":"rod-rhea-ryan-hayes-neighbourhood-first-quarter-overview-mortgage-rates-increase-stress-test-sales-stock-supply-low-buyers-royal-lepage-sterling-expensive-hot-housing-record-sellers-average-asking-pri","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/rod-rhea-ryan-hayes-neighbourhood-first-quarter-overview-mortgage-rates-increase-stress-test-sales-stock-supply-low-buyers-royal-lepage-sterling-expensive-hot-housing-record-sellers-average-asking-pri\/","title":{"rendered":"REBGV Q1 Housing Overview"},"content":{"rendered":"

The resale housing market moved in two bursts in 2021 with composite benchmark prices increasing 11% between <\/span>January and June and a further 4% increase between September and December. With inventory drawn down to <\/span>around 5,600 listings at the end of January 2022, today’s market is unable to absorb even modest increases in <\/span>demand without moving prices substantially. <\/span><\/span><\/span><\/span><\/span><\/p>\n

With persistently strong demand and new listings unable to keep up, benchmark prices have risen 36% for detached, <\/span>28% for attached, and 13% for apartments since the beginning of the Covid-19 pandemic in March of 2020. Looking <\/span>ahead into 2022, home price growth will come back toward longer-term averages as rising mortgage rates, and price <\/span>levels squeeze some potential buyers out of the market. As can be seen below, even a normalizing of the number of <\/span>buyers and sellers in the market will take 18 to 24 months for the listings inventory to recover from the severe <\/span>drawdown that’s ocurred in the market since the fall of 2020.<\/span><\/span><\/span><\/span><\/span><\/p>\n

Highlights<\/span><\/span><\/span><\/span><\/strong><\/span><\/p>\n

•<\/span>Listings remain stubbornly scarce in the early part of 2022, inventory will not build until sales fall;<\/span>
•<\/span>Mortgage rates are expected to rise and the stress-test rate is expected to remain at in 2022;<\/span>
•<\/span>Sales are expected to fall from 2021 levels due to deteriorating affordability;<\/span>
•<\/span>Extreme upward price pressure remains at the start of 2022;<\/span>
•<\/span>Prices are expected to rise in 2022, but the majority of upward moves will happen in the rst half of the year.<\/span><\/span><\/span><\/span><\/p>\n

For More Information: CLICK HERE<\/a>
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The resale housing market moved in two bursts in 2021 with composite benchmark prices increasing 11% between January and June and a further 4% increase between …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1298","post","type-post","status-publish","format-standard","hentry","category-news"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t