Home prices soared in 2021 thanks to a huge surge in demand caused by the pandemic and rock-bottom mortgage rates. Together, these combined to fuel an unprecedented nationwide real estate buying frenzy. In 2022, home buyers should expect more of the same with sellers remaining strongly in the driver’s seat. Buyers should be prepared for fierce competition for any available homes.

The current real estate market is being moved by the same trends we saw last year, remote work and moves from big cities to more rural locations. The overall market saw an 18.2% increase in total sales from 2019 to 2021, according to a report from Berkshire Hathaway home Services. Nationally, Zillow expects home values to increase another 14.3% in 2022.

Here in Connecticut, the number of homes coming on to the market does not meet current demand. For this reason, realtors expect to see intense competition for available homes and a decrease in overall sales in 2022, even as prices for existing homes will continue to rise. Depending on where you live in Connecticut, your home has probably increased in value 20-40% since 2018. Now is a particularly good time to make a move to Duncaster because while Connecticut home values have risen dramatically, Duncaster has not increased entrance fees this year.