Home prices will continue to Spike in 2022 and 2023
According to Zillow “the year-over-year rate of home price growth to peak at 21.6% in
May and to close the year at 17.3%. Simply put: Instead of decelerating, Zillow sees the
2022 spring housing market getting even hotter.”
This is largely attributed to the low inventory.
Fannie Mae expects the growth to be in the range of 7.6% and 3.3 percent for 2022 and 2023.
Home prices continue to Soar
According to Dallas Morning News home prices continue to soar the median home prices
in Dallas-Fort Worth were up 14% YoY. The price stood at $400,000.
The talks about interest rate hikes have not slowed the housing markets yet. This is not
expected to normalize at least in the near future for the DFW market.
Property Management Tips
As more and more investors enter the residential real estate market here are some
tips to help you take care of your investments.
- Mange your property like a business – Understand the cash flow, books, policies,
procedures and regulations
- Invest in your property – Every tenant loves a clean home ensure that you
maintain your property including flooring, HVAC, Lawn and other aspects of your
- Looks are important – how your property looks exterior and interior are key
- Hire a professional – Keeping up with regulation and changes can be taxing if you
are not able to do that hire a professional to do the same
Real Estate Macro News
According to NAR 67% of 183 metro areas – had a double-digit increase in the median
single-family existing-home sales price
In January 2022, existing-home sales rose to a seasonally adjusted annual rate of 6.5
million – an increase of 6.7% from the prior month, with sales up in all regions.
The fourth quarter of 2021, much like the third quarter, saw home prices continue to
increase, although at a slower pace.
The top metros were Punta Gorda, Fla. (28.7%); Ocala, Fla. (28.2%); Austin-Round Rock, Texas (25.8%); Phoenix-Mesa-Scottsdale, Ariz. (25.7%); Sherman-Denison, Texas (25.1%); Tucson, Ariz. (24.9%);
Top expensive markets were
- San Jose-Sunnyvale-Sta. Clara, Calif. ($1,675,000; 19.6%);
- San Francisco-Oakland-Hayward, Calif. ($1,310,000; 14.9%);
- Anaheim-Santa Ana-Irvine, Calif. ($1,150,000; 23%);
- Urban Honolulu, Hawaii ($1,054,500; 16.8%);
- San Diego-Carlsbad, Calif. ($845,000; 14.2%);
- Los Angeles-Long Beach-Glendale, Calif. ($797,900; 15.9%);
- Boulder, Colo. ($775,100; 17.2%);
- Seattle-Tacoma-Bellevue, Wash. ($700,000; 13.9%);
According to NAR economist Yun “The good news is that home prices should begin to
normalize later in 2022 as more homes come on the market,”
Real Estate Development News
PGA America Relocating its headquarters from Florida to Frisco
According to Rebusinessonline Omni Resorts is developing Omni PGA resort.
The property is developed in partnership with the City of Frisco and the PGA of America.
The relocation represents a total investment of $520 million for Frisco.
The following Amenities will be available at the resort
- Two 18-hole courses, a 10-hole short course and a two-acre putting green
- 3 Pools, spa, 127,000 sq foot of meeting & event space
- Variety of Food and Beverage options onsite.
The project is slated to be completed in Spring of 2023