New Year, New You? Resolutions are a nice reminder to start a year feeling refreshed with new goals or newfound motivation for old ones. Last year was another challenging one for a lot of people near and far. COVID may have negatively effected a host of supply chain and workforce issues, but the pandemic put fuel on the already heated real estate market.

For 2022, one thing that will remain fairly constant is the remarkably active housing market in the Bozeman area — discussed in depth in my previous newsletters. Projections for the broad scope of US housing markets for 2022 are said to still trend higher but with slightly less increases than 2021 due to projected mortgage-rate increases, housing prices and continued housing supply shortage. Interest rates for homes have been low for the past few years with an average hovering around 3%. Estimates expect the 30-year mortgage to rise throughout 2022 as the Fed tapers their buying of mortgage back securities (MBS) to around 4% by year’s end. The first taper is expected mid-January 2022.

What does this mean for you? If you’re thinking about buying or selling, keep me posted. I’ll keep you in the loop with the latest changes to this new year’s housing market.

-Dianne Click