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Will real estate housing market crash or cool off in 2022? Experts give their 2 cents

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LOS ANGELES - It feels like a never-ending uphill battle for many homebuyers across the United States. "My experience with looking for a house has been frustrating," one Georgia resident told FOX Television Stations Group. "I have been texting my agent day and night to squeeze in a showing only for the house to go before I could even go see it." The woman, who desires a home in Atlanta, revealed, not too long ago, she put in an offer on a house above the asking price only to discover the seller went with someone else's offer who paid $200,000 over the asking price with no contingencies. "At this point, instead of being able to take my time to find a house that I truly like, I have resorted to finding one that is good enough because that’s all I can afford," she added.But this is only the tip of the iceberg for first-time homebuyers and likely not the first story you’ve heard, especially lately: tight inventory, multiple offers on rundown properties, houses selling for well over the asking price (sometimes by hundreds of thousands of dollars) and home renovations taking substantially longer than predicted due to low supply on flooring, cabinets, and, well, literally everything. "COVID has flipped our life upside-down, disturbed many aspects of everyday life, but the housing market [had] exceptional performance," Lawrence Yun, chief economist of the National Association of Realtors (NAR), told FOX Television Stations.

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