2021 was a great year for home sellers. Record low inventory combined with low interest rates sparked the hottest seller's market in several decades. It wasn't uncommon to see homes fly off the market in less than a day, while bidding wars often drove sales 10-15% over asking price.
While typical real estate seasonality has cooled things off just a bit over the last couple of months, many sellers are wondering what to expect in 2022. If you weren't ready to list your home this year, you might be wondering if you missed the boat.
While there are most certainly changes ahead in 2022, it's still likely to be a great time to list your home. Here is what to expect:
How Sellers Can Prepare for 2022
The hot seller's market of 2021 is likely to cool off in 2022. Despite increases in inventory and higher interest rates, we're still likely to see a seller's market next year. As home prices continue to appreciate, it's likely still a great time to list your home.
We get it, buying a home is complicated. No other purchase requires buyers to juggle so many moving parts at once. In fact, with the amount of energy and time required, buying a home can feel like a full-time job. It's no wonder it's so easy to forget about important items during the process.
However, forgetting details can actually make the entire experience harder for you. It's important to try to stay as organized as possible from the moment you start your shopping process through closing. To help, we compiled a quick list of items home buyers frequently forget to consider when purchasing a home:
Buying a home is a great way to grow your wealth and generate a return. However, it does require a significant amount of work upfront. Try to stay organized through the process and lean on your real estate agent for some extra help.
Due to the COVID pandemic, everyone has spent more time indoors over the last two years. Whether working from home, home-schooling the kids, or simply isolating for safety, the home has taken on a whole new meaning. With a new appreciation for the comforts of home, design trends are changing our living spaces for 2022.
While the kitchen has always served as the hub of the home, that concept will be exemplified in 2022. Kitchens that focus on cooking, family gatherings, spacious layouts, and luxurious finishes will be in the spotlight. Expect to see a variety of quality kitchen appliances that simplify cooking, food storage, and cleaning chores. Open kitchen layouts that emphasize family gatherings and provide plenty of elbow room for guests will replace kitchens with small, closed-in spaces.
Multi-functional spaces that serve many purposes will take a back seat to dedicated spaces that address specific needs. In 2022, there will be a surge in spaces dedicated to work and relaxation.
Bold Colors and Patterns
Homeowners are stepping out of their comfort zones and taking risks with bold colors and patterns that boost their mood. Bold colors and patterns with intense hues and rich textures are topping the list. Bold paint colors in shades of teal blue, hunter green, and ochre, umber, and mustard are top sellers. Rich textures found in suede, velvet, mohair, and natural fibers are trending. Bold colors and patterns are showing up in rugs, upholstery, draperies, wallpapers, and accessories for the home.
Curves and Soft Edges
Curves and soft edges are replacing hard, straight lines in home furnishings and accessories. Architectural details like rounded ceiling soffits and walls, curved edges on kitchen cabinetry, and arched windows and doorways are trending in new home construction across the country. In existing homes, homeowners are incorporating this trend by buying sofas and chairs with softer, rounded corners, drum tables, round chandeliers, and oval or round area rugs.
Vintage and Antique Furnishings
Designers are noticing a renewed interest in vintage, antique, and handcrafted furnishings that lend the unique charm and character of the past. Homeowners are turning to old antique rugs, velvet draperies, vintage wallpapers, pleated and ruffled upholstery, and tasseled and fringed throw pillows to create a warm, inviting home. To prevent a stuffy atmosphere of days past, vintage and antique furnishings are being combined with decorative elements in bolder colors that feel more playful and less traditional.
In 2022, emotional wellness continues to be a major factor in home design trends. Homeowners are focused on ways to bring more natural light, ventilation, and healthy elements into their spaces. Design trends emphasize organic materials like wood, stone, and ceramic, relaxing features like fireplaces and waterfalls, and healthy air quality with more indoor plants. Homeowners want interior elements that promote a relaxing home atmosphere and a balanced mindset in uncertain times.