2021 Q4 KERRVILLE AREA HOUSING REPORT

2021 Q4 KERRVILLE AREA HOUSING REPORT

Solid Finish to a Record Year for Kerrville Area Real Estate Prices for the Kerrville area appreciated 16.1% last year compared to 2020 and show no sign of a significant slow-down as inventory remains low and buyer demand stays exceptionally high. It's undoubtedly good news for sellers who want to maximize the value of their properties. In addition, the National Association of REALTORS® predicts housing prices across the country will climb 5.7% in 2022 — significantly less of an increase than in 2021, but another increase, nonetheless. As a result, buyers who enter the market early in 2022 will see a tangible return on their investment, and sellers who put their homes on the market will cash in on these record-setting price gains. Inventory levels are still significantly tighter than we've seen in recent history, and we don't foresee that changing until supply shoots up with new construction homes. The region's population of 3.1 million in the Hill Country is expected to increase to at least 4.3 million by 2030. Two main factors fuel the growth – 1. the changing demographics in the United States, sending baby boomers flocking to the Hill Country to live out their final years, and 2. spillover growth from Austin and San Antonio -- two of the fastest-growing economies in the U.S. As the single-family home market thrives, expect to see the second-home market flourish. Vacation and second home purchase growth will continue at heightened levels through 2022. We'll see more buyers seeking respite on hilltops and along rivers, especially with the growing emphasis on flexible, remote work, increasing the demand for second homes. The bottom line is slower housing price appreciation and rising interest rates in 2022. Homeownership offers intangible benefits beyond being an excellent investment and wealth-builder like happiness, contentment, and confidence to know you've achieved the American dream. Whether buying or selling, contact Fore Premier Properties at 830-257-4000 – our goal is to help you reach yours.