5 Home Building Trends To Watch For In 2022
2022 May 13
When planning to build your own home, there are many things you’ll want to look out for – including the latest building trends! In this post, we’ll take a close look at some of the major trends that seem to be popular in 2022!
Reduced Construction Costs
The general cost of construction will likely come down significantly in 2022, which will prove very important for home builders.
Throughout the pandemic, supply chains were suffering greatly, and everyone was starting to wonder when they would return to normal. Reduced costs are truly great news for the whole industry, and should positively impact your project.
Cooling Home Prices
At the same time, we’re also starting to see a slight cooling of home prices across the board. This is also good news for home builders, as it means this is a great time to build a dream home!
At the start of the pandemic, median house prices were somewhere around $280,700, and then peaked up to $362,800 in June of 2021.
But now they are holding at around $350,000, and it doesn’t look as though it’s going to change much in the next year. If you’ve been putting off buying land for a construction project, now could be the time to strike!
Higher Mortgage Rates
However, and partly because there is likely going to be a renewed interest in properties everywhere, the mortgage rates are rising. This is something that everyone in the industry should be aware of as well.
If you’re planning to build a home for yourself rather than buy one, then this is good news for you.
You will be avoiding those mortgage costs that are hitting other people hard. You should still be aware of how it’ll affect you, however, if you’re building a home with the intention of selling it to other people.
Optimal Time To Buy Land
It has long been accepted that anyone interested in getting their foot on the housing ladder should seek to buy land.
If you’ve been thinking about buying land and you’re not sure whether it’s the right time, 2022 could be the year you bite the bullet and finally do it, if you can.
Your biggest motivator should be that purchasable land seems to be finally running out in many areas. If you don’t act quickly, getting your hands on some land may become very difficult.
Less Aggressive Marketplace
In times of great stress such as the pandemic we have been living through recently, there is always greater aggression in the marketplace, and it’s easy to understand why.
But now, it seems as though the market is cooling down. In fact, iBuyers in particular, or instant buyers as you might know them, are probably going to settle down towards the end of 2022. So if you’re thinking of getting into this market now, it could be a great time to do so!
Eagle Creek Homes
Building your custom dream home requires a lot of planning, and finding the right partner to guide you through the whole process can make it easier.
At Eagle Creek Homes, we understand how important your custom home building project is for you and your family. We also know how complicated it is.
That is why we pride ourselves on being true partners. We will work hand-in-hand with you, guiding you through our excellent, transparent custom home building process.
If you are ready to start bringing your dream home to life and want to learn more about our process and customization options, contact Eagle Creek Homes today!