With real estate professionals gearing up for another strong year, two of the industry’s leading experts dove into the most significant economic and regulatory issues on the horizon and their implications for the real estate market, during RISMedia’s Real Estate Rocking in the New Year on Jan. 6.

Last year saw record-level activity on home prices and mortgage rates. Still, it also left several challenges facing the housing market this year.

The Bureau of Labor Statistics (BLS) released its consumer price index (CPI) summary Tuesday morning showing an almost 40-year high year-over-year increase in December at 7%, with core inflation at 5.5%.

Mortgage applications increased 1.4 percent from one week earlier, for the week ending January 7, 2022. According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey, the Market Composite Index, which measures the mortgage loan application volume, increased 1.4 percent on a seasonally adjusted basis from one week earlier. The previous week’s results included an adjustment for the holidays.

Key findings:

An outside panel of economists and housing experts who participated in Zillow’s most recent Home Price Expectations Survey, were evenly split on whether sales will rise or fall in 2022, as concerns over worsening affordability collide with expectations for rising inventory.

When asked whether sales will rise or fall in 2022 compared to 2021, 41% of participants said sales will grow, 41% predict a slowdown, and 18% believe sales will remain roughly the same.

Berkshire Hathaway HomeServices has announced its further expansion in the coastal Southeastern region with the addition of Berkshire Hathaway HomeServices Coastal Real Estate. This marks the Berkshire Hathaway HomeServices brand’s continued growth with its 11th location in the state of South Carolina.

Jim Parker and John Jobson are the broker/owners of the new firm.