Market Update for The Village at Courthouse Commons

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Here is a quick market update for the residents of The Village at Courthouse Commons. The Real Estate Market in 2021 has been crazy and driven by a lack of homes for sale plus new home builders are building less due to several factors. The supply chain interruption have had an impact on new homes sales and causing delays in the building process. With the recent market swings some sellers that normally would have been selling are holding on to their homes compounding the shortage in homes for sale. Low interest rates have driven lots of buyers to purchase homes and take advantage of historically low interest rates.

At the beginning of 2022 we have seen interest rates increase and overall the predictions are interest rates will go up in 2022, but let me say this no one has a crystal ball to give us exact predictions. With interest rates increasing and hopefully more homes coming on the market we might see this tremendous increase in home sales prices plateau a little bit, but this still does not account for the lack of homes for sale. As long as we are seeing more buyers respective to the homes for sale prices could still continue going strong.