Current real estate trends could impact home sales and purchases

On Behalf of | Jan 12, 2022 | Real Estate Transactions |

The purchase or sale of a home in Louisiana can come with various challenges and specific risks. This is why it can be helpful to do extensive research on the current market before making an important decision. Current real estate trends could have a significant impact on home sales and purchases, and preparation can help a buyer or seller make the best possible decisions for their individual situation. 

The real estate market in 2022 

In the past year, the real estate market was very competitive for buyers. Home prices were extremely high, and inventory was low. This led to many potential buyers vying for the same home, and it was not uncommon for homes to sell far above asking price. Experts believe that prices will likely remain high into 2022, but there could be some relief in sight. For anyone considering selling their home, real estate experts agree this is a good time to do so. 

Trends also indicate that open houses will become less common in 2022. Most people prefer to see pictures online and do virtual home tours, and COVID-related safety concerns play a part in that as well. This year, homebuyers also may be more likely to consider politics when deciding where to buy.  

Why an attorney is important 

Buying or selling a home is a major legal and financial decision. It can be helpful for a Louisiana buyer or seller to work with an experienced real estate attorney. This can ensure that a buyer or seller avoids certain missteps and mistakes that could cost him or her time and money.