- Leasing Agents
- Customer Service Representatives
- Maintenance Technicians
- Diligence Supervisors
- Loan Analysts
- Loan Resolution Specialists
- Loss Mitigation Specialists
- Renovation Managers
- Directors of Renovation
- Foreclosure Specialists
- Construction Superintendents
- Regional Construction Managers
- Property Managers
- Project Managers
As for the housing market itself, it was heavily influenced by the remnants of the global pandemic and continuation of the remote work policies that defined the previous year and a half. The year was also marked by a counterreaction to the real estate boom of 2021, when prices surged due to record inflation in the fall. Despite a cooling housing market, prices remained higher than any previous year on record.
Some of the data points that defined the 2022 housing market include a record high median U.S. home price, with the typical home selling for $430,365 in May, breaking the previous high of $386,000. San Francisco was the most expensive metro area for homebuyers in 2022, with a median sale price of $1,505,000. The median rent price also rose to $2,053 in August, with rent prices in New York rising to over $4,000. Rent growth has consistently outpaced wages for decades, but there are currently over 1.1 million rental units under construction in the U.S., which will help to alleviate part of the housing shortage.
Homebuyers looking to relocate favored Sun-Belt cities, with Miami, Tampa, Las Vegas, and Phoenix being the most popular destinations. Homebuyers looked to move away from expensive coastal metros like San Francisco, Los Angeles, and New York. Many popular relocation metros experienced severe drought, including Phoenix, Las Vegas, and Sacramento.
The trends in 2022 were driven by continued growth in remote work and a desire for housing affordability, which drove relocation patterns. However, trends in some popular destinations reversed course after they became too popular, competitive, and expensive. Cities like Salt Lake City, Phoenix, Tucson, Dallas, and San Antonio all declined in popularity in 2022. Overall, the 2022 housing market was a year of dramatic change and adjustment, and the industry continued to evolve to meet the needs of buyers, sellers, and renters.
As we begin 2023, TalentWoo’s executive search consultants and real estate recruiting experts stand ready to help our private equity firms, developers and property management clients make strategic hires that will help them navigate the ups and downs of this year’s housing market!