The past year may have been a wild ride for potential homebuyers, but reports indicate that the housing market in 2022 could be even more competitive.
New listings are currently at a record low, according to Redfin and Zillow. In fact, at the end of 2021, there were 19.5% fewer homes listed than at the end of 2020, and 40.5% fewer homes available for sale than at the end of 2019, according to Zillow’s December 2021 Market Report.
That’s driving up prices even higher than last year: The median home sale price was up 14% during the four-week period ending January 16 compared to a year ago, reaching $358,500, per Redfin.
Last year, homes were snapped up hours after hitting the market, often…