2022 - Tracking the Catskills Real Estate Market
2022 is nearly over and, compared to other recent years, it wasn't all that bad. All of us -- Realtors, buyers, and sellers, have been adjusting. All the experts predicted the precipitous drop in business in 2022. They were right, but not entirely right. Mortgage rate hikes definitely iced down a hot market, but buyers were still looking and, when they found the right place, buying in 2022. Agents who've been in the business awhile continued to be busy. It was tougher for the newbies. Quite a few new agents who jumped on board during the 2021 boom, jumped ship. It's really hard to justify the amount of time, effort and expense involved in being a Realtor when you don't see any financial reward. It was tough on agencies as well, particularly the biggest ones. Many big firms ran into real trouble. The battle for business is fierce when a lot of big agencies are all doing basically the same thing the same way. In addition, there's competition from new real estate tec
