It’s hard to believe 2021 in the rear view mirror and we’re already into February of 2022. We had a very exciting beginning of the New Year with the announcement of The Durkovic Group and the launch of our new website. Everyone on The Durkovic Group and Greg Holcomb’s team are very eager to bring this new real estate group into 2022 and beyond. The merger is just the beginning. There are so many amazing things on the horizon for our team!
Reflecting on 2021
Before we take a look ahead to 2022, let’s take a quick look back at 2021 in the Los Angeles and San Gabriel Valley real estate markets. This was a very fast-paced year for real estate all across the country as the economy continues to recover from the Covid-19 pandemic. We had to change some of the ways we conducted business, but it didn’t stop home buyers, sellers and investors from being extremely active throughout the year.
We saw mortgage rates rising a little as inflation has affected the economy. However, mortgage rates still remain at historic lows and home buyers have plenty of buying power. We may see interest rates slowly rise, but stay relatively low by historic standards. Home prices have risen with low housing inventory.
What to Expect in 2022
We think we may see more sellers on the market in 2022 as appreciation rates slow down a little. It will still be a very active market and the conditions will continue to favor sellers for the foreseeable future. The good news for buyers is that real estate in Southern California is always a strong investment and it’s never really a bad time to buy property.
As new variants continue to evolve and the political landscape gets more volatile, it’s hard to predict everything we can expect in 2022. Debates will rage over vaccine and mask mandates while we all try to live our lives the best we can in these trying times. Other than a brief market pause in 2020, the pandemic has not really slowed down the LA real estate market. We saw some people leaving the urban areas during the worst parts of the pandemic and we have even seen California residents and businesses moving out-of-state to lower-tax locations. It certainly hasn’t been the mass exodus that some would like you to believe. Plus, for every person leaving there’s a new buyer waiting to move in. Los Angeles will always be a desirable destination with one of the most expensive and active real estate markets in the world.
As The Durkovic Group, we are very excited for what 2022 has in store. The luxury home markets we serve throughout Los Angeles and the San Gabriel Valley will continue to be very active. We can’t wait to help home buyers, sellers and investors make the most of their opportunities here in the communities that we love.
Thank You!
We would also like to take this opportunity to say thank you. We are extremely grateful for all the support we have received from our clients, friends, family and colleagues as we have launched The Durkovic Group.
If you are planning to buy or sell real estate in 2022, it’s never too early to start planning. Contact The Durkovic Group today to get started.
