What does 2022 hold for commercial

By Steve Peterson

What Does 2022 Hold for Commercial Markets

up, making housing more expensive. According to Fannie Mae, house prices may not cool off much. It expects median prices to rise 7.9%, which is considered as a slow growth compared to the prices seen this year. In essence, the housing market might return to normal in 2022. In this post, we will share some insights on the future of the commercial market and why you need to be at high alert.

As we wind down 2021, everyone is looking up to what 2022 will hold for the real estate market. While the real estate market is profitable and seen as one of the most stable markets in the United States, 2021 proved that it’s not so immune after all. The pandemic dramatically affected property prices across the market and even mortgage rates. Inventory was also affected, which led to homebuyers engaging each other in bidding wars.

BUT, WILL 2022 LIKELY CONTINUE IN THIS MANNER?

Steve Peterson opines that the commercial market will witness some changes and adopt new trends in 2022, adding to the fact that the housing market may cool off over the next three years. The Fed will look to raise rates if inflation goes

THINGS THAT WILL IMPACT THE COMMERCIAL MARKET

1. ETRADING SHARES

Trading shares of real estate assets will go electronically in 2022. Currently, the world is in the phase of eInvesting in commercial real estate, and will go mainstream in the coming year. With apps like Robinhood and FinTech solutions emerging, the barrier to entry will be lowered for people who want to invest, making real estate investing more accessible.

2. NATURAL DISASTERS

Natural disasters, such as wildfires will increase the rates of home fire insurance. As usual, hurricanes and storms in Florida are expected to continue to take a toll on real estate pricing and

3. SMART HOMES

There will be more adoption of smart home technology in 2022. More investors will embrace 3D virtual tours, and more properties will have a 3D tour that will be used for marketing and operations purposes.

4. THIRD-PARTY OWNER REP.

The red-hot real estate market has made it difficult to find qualified professionals to handle project needs, such as construction. As a result, developers will turn to professional thirdparty owner representatives to assist. These developers will be counting on local experts to execute construction and projects through their scalability capabilities.

5. MIXED-USE ZONING

Mixed-use zoning is already taking place, but it will become one of the biggest trends in the coming year. Hotels will become housing, parking lots will become self-storage, etc. Reuse and repurposing of assets will become a new way to generate revenue in 2022.

6.MORE PROP TECH INNOVATIONS

The real estate market is already leveraging technology to improve service delivery and foster efficiency. Transactions and assets are now being handled more effectively, thanks to property technology. In 2022, this will become more typical. Prop Tech will transform the industry in a way that all processes will utilize digital services. Efficiency will be maximized, allowing professionals to focus on other aspects of the business.

7. VIRTUAL TOURS

The National Association of Realtors revealed in a survey that most millennial homebuyers toured properties they chose online, and nine out of ten credited photos as the determining factor. Virtual tours will become the next big thing next year, as they provide buyers with a clear picture of where they will be living.

8. CRYPTOCURRENCY FOR REAL ESTATE TRANSACTIONS

Cryptocurrency is becoming more adopted in almost all the industries, and this will likely be the case in the real estate niche. More tenants will be willing to pay their rent in cryptocurrency, and more real estate companies will integrate crypto payments.

CONCLUSION

With the real estate market expected to cool off in 2022, you should take advantage of the opportunity to secure a home for yourself especially with the mortage rate still low. Reach out to one of our agents on the TPIN website.

ABOUT THE POWER IS NOW MEDIA

The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www. thepowerisnow.com.

Published by Eric Lawrence Frazier, MBA.

References

https://fortune.com/2021/10/26/housing-market-2022-forecast-fannie-mae/amp/

https://www.google.com/amp/s/www.forbes.com/sites/forbesbizcouncil/2021/11/03/15-real-estate-pros-share-their-market-prediction-trends-for-2022-and-

beyond/amp/