Happy new year, the holidays are over and I think we're all finally starting to figure out what day it is as we settle back into our normal routines. So let's kick off the first market minute of 2022 light and short. My name is scott ziegler. I'm a local realtor here in saskatoon and surrounding area.
I study the market stats and share them with you so that you don't have to, we're going to look at three indicators today as we forecast for the year, 2022 number one is low inventory or actually historically low inventory. So we know that's going to change as we head into spring with more houses coming on the market.
So if you're looking to sell the home in 2022 and you want to partner with a great agent that can walk you through that process, let's have that conversation so that you're set up to succeed as more product, more inventory comes on the market and there's less demand for your house. Number two is buyer demand.
Now, buyer demand is still strong, probably above average buyer demand for this time of year as we get headed in towards spring, there's going to be more active buyers in the market. So if you're thinking about buying a house in 2022 again, you want a great agent to guide you through that process.
Now would be the time to start thinking about preapprovals getting your ducks in a row because buyer demand is strong and will probably get even stronger as we head into the spring market and number three is interest rates. If the bank of canada goes ahead with the four interest rate hikes that they propose for this year, that's not good for buyers or for sellers.
Now, it remains to be seen if they do go ahead with it. But for now, interest rates are incredibly low. That's what's fueling the buyer demand and that's what's putting upward pressure on home prices. So if interest rates do climb throughout 2022 that will put some downward pressure on home prices that will tamper some of that buyer demand.
So again, if you're thinking about selling or buying, you might want to do something before those interest rates start to creep up. If you have any questions or concerns about the market or how I can help navigate you through that market, happy to have that conversation with you. And in fact, if there's anything in this world that I can do to serve you just reach out to me because as always, I'm just happy to help.