It’s been a crazy year for real estate with bidding wars, record home prices and historically low inventory, but that may all come to an end in 2022.

Among the 51 metro areas surveyed in October, closed transactions were down 6.4% from September, nearly twice the average pre-pandemic decline of 3.3% between 2015 and 2019, RE/MAX said, citing its National Housing Report.

November’s reading of 83 was up three points from October, driven by low existing inventories and strong buyer demand, the National Association of Home Builders reported, citing the latest NAHB/Wells Fargo Housing Market Index.

Housing observers noted that demand for housing remains robust despite the lack of new supply.

Should you wait until spring to put your home on the market? A recent Realtor.com report says, not necessarily.

The pandemic brought historically low inventory and sky-high home prices, but it also brought good news for homeowners, making them equity rich, as many owe far less than what their homes are worth.

According to real estate data provider ATTOM, foreclosure filings, which include default notices, scheduled auctions or bank repossessions, rose 5% in October on a monthly basis and 76% from October 2020, to 20,587 filings.

Seventy-eight percent of the 183 U.S. markets monitored by the National Association of Realtors had double-digit increases in their median home prices, a decline from the second quarter, when 94% of markets saw double-digit increases.

At the same time, the median sales price of properties sold rose 20.1% to $340,000, Georgia MLS reported.

“Mortgage rates decreased for the first time since August, as concerns about supply-chain bottlenecks, waning consumer confidence, weaker economic growth and rising inflation pushed Treasury yields lower.” — MBA associate vice president of economic and industry forecasting Joel Kan

Millennials are purchasing houses — finally. Over the past year, millennials made up the largest share of homebuyers: 37% according to Barron’s.

Over the last year, Atlanta’s for-sale housing inventory has fallen to 9,450 homes from 13,196.

“Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity.” — NAR chief economist Lawrence Yun

Home-price gains were once again broadly distributed, as all 20 cities in the S&P CoreLogic Case-Shiller Home Price Index rose, although in most cases at a slower rate than a month ago.

At the same time, the increase in interest rates drove fewer borrowers to refinance their loans, according to the Mortgage Bankers Association.

The month also saw a slight shift in inventory, even though shortages continued.