2022 Real-Estate Market & Promotional Products

It’s over! The Interesting and unpredictable, weird 2022 housing market has ended. 

January through June was one type of market, and July through December was a very different market. Not sure of the exact date of the shift but I believe it was around July. 

The First Half

We saw unusual price appreciation in the first half of 2022 similar to 2021. There was a shortage of properties for sale creating a sellers market.  Sellers were receiving multiple offers on properties and receiving offers well above asking prices.   The other event fueling price appreciation was historically low interest rates making it easier for families to afford homes.  Demand was driven even more by the fact the millennials were reaching their home buying years. 

We were in the middle of a pandemic which kept people at home and not spending on vacations and entertainment.  As a result of people being on lockdown many saved money and was able to use that money to purchase a home. 

As a result of many businesses allowing employees to work from home many people moved away from large expensive city's to more affordable locations.  Realtors in New Jersey saw a large increase in clients coming from New York City to the less expensive commuter towns driving price appreciation in those towns. Properties were selling in one to two days at prices above asking price.  

First Half Effect On The Promotional Products Industry

We saw a decrease in business in the hospitality industry mainly because of the pandemic.  The Hospitality Industry was effected because people were staying home, not traveling, eating out or attending events.    

We saw an increase in promotional product sales to realtors due to the market conditions.  One of the top selling items was the Home Tool Kit.  Client feedback was great because realtors had a quality tool kit with their logo and contact information on it that their clients loved.  Referrals were flowing because our clients were top of mind with their clients.  This is a great product for first time home buyers.  

The Kitchen Measure Magnets are a great giveaway for realtors as they have useful cooking measurements on them as well as your logo and contact information  The Kitchen Measurement Magnet is a handy reference guide and a valuable asset to your client and you.