
The last two years caught many of us off guard—and not just because of the pandemic. They also ushered in the hottest housing market on record, with home prices rising nationally by nearly 19% in 2021, driven primarily by low mortgage rates and a major supply shortage.1
But while some had hoped 2022 would bring a return to normalcy, the U.S. real estate market continues to boom, despite rising interest rates and decreasing affordability.
So what's driving this persistent demand? And is there an end in sight?
Here are three factors impacting the real estate market right now. Find out how they could affect you if you're a current homeowner or plan to buy or sell a home this year.

Reading is fun for all ages, and our real estate agents know the right environment makes it even more satisfying. As you visit Richmond homes for sale, you are sure to find plenty of cafes, restaurants, and other spots where you can take your latest summer read or books to study.
With its strong culture of learning and vibrant educational institutions, Central Virginia will entice you with places where you can sit and sip your favorite coffee or tea as your stories unfold.