By Joseph T Ellington Jr – Licensed Residential Appraiser, Capital Valuations. Historical article reviewed September 2026; not a current market forecast.
This archived article looks at how the residential market shifted during 2022. It preserves the original URL and image for historical context. It should not be used to infer today’s prices, mortgage rates, inventory, or any particular home’s current value.
Why 2022 matters to an appraisal
Mortgage rates rose in 2022 while national home sales cooled. These national patterns provide context but cannot replace a local submarket analysis. The Freddie Mac rate archive and NAR existing-home-sales series let readers check historical dates and trends.
| Question for an old sale | Why it matters |
|---|---|
| When was the contract signed? | Closing can lag the price agreement. |
| Where was the property? | Virginia Beach, Newport News, York County, and rural Suffolk need separate market checks. |
| What changed by the effective date? | Inventory, concessions, condition, and financing can differ. |
From archive to appraisal evidence
An appraiser examines sales relevant to the assignment’s effective date and tests whether a time adjustment is supported. Specific price and inventory numbers in the old draft lacked verifiable attribution, so they are omitted here. See how comps are chosen and the separate October 2024 archive.
For a current decision
Use recent local transactions, contract activity, concessions, and property characteristics. Contact Capital Valuations with the address and intended use for an appraisal discussion.