What will the spring 2022 housing market look like

The spring housing market is often regarded as one of the busiest and most important times to buy or sell a home. 

With increasing inflation, rising property prices, and record-low housing supply, the 2022 spring market could be a challenge to navigate without the skills and knowledge of an experienced REALTOR®.

What we can generally expect from a spring market

Some may consider the spring market to occur between March and May. However, the spring market can start as early as January after home buyers have spent holiday downtime surfing REALTOR.ca and evaluating their plans for the new year. 

“If I were advising a client who has a listing, I would say get out there in January and February, because that’s when there really aren’t a lot of listings, but there’s a lot of demand,” she said. 

A large part of the market is made up of families with children seeking more space for greater affordability, Yao said. Many households are moving to the outskirts of the region to communities such as Halton, Kitchener Waterloo, Guelph, Hamilton Area.

What does the spring 2022 market look like for buyers?

Given the predicted ongoing housing supply shortages, the best strategy for prospective buyers is to be as prepared as possible. 

“The first thing you usually need to understand as a buyer is your own financial circumstance,” said Yao. “You have to talk to a mortgage broker, you have to know exactly the area you want to be in. You need to know your price range. You need to know the details of the property that really matter to you before actually going and looking.”

Once you’ve consulted with your mortgage broker and you’re ready to begin touring homes, it’s essential to move on new properties quickly once they become available. 

For instance, you’ll want to ensure your bank allows you to access deposit funds swiftly in the event of an offer. You’ll also want to view properties within the first day or two they’re listed on the market so you can get ahead of competing purchasers

. 

“The more days that go by, the more time people have had the opportunity to see the property, and if you’re the buyer, you don’t want other people to see it,

What can sellers and investors expect for spring 2022?

Compared to buyers, sellers have the upper hand in the current market with more purchasers compared to listings. However, this doesn’t mean those putting their home on We can slack off on any of the important setup steps. 

As homes are heavily viewed and marketed online like any product, professional photography, staging, and cleaning is crucial to getting your listing off on the right foot. It’s also beneficial to consider including a home inspection report for added transparency and knowledge.

Yao explains, thanks to the efficiency of technology and the current competitive market conditions, buyers will often narrow down their choice of homes online before making a showing request to visit them in person, hence the importance of a good online presence. 

“People are used to seeing a place before going into it. They want to understand things even more so now. Especially with the multiple offer situations,” “You don’t really have the time to go around to 20 houses and then pick one and go for a second showing and so forth.”

For property investors looking for cash flow,  the rental market will continue to strengthen into the new year as people return to downtown areas for work. 

If you are thinking of buying, selling or renting a home in spring 2022, consult the help of myself for expert advice and guidance on the market.