HomeTeam Inspection Service — the 200-plus location home inspection franchise known for its unique team-based approach — saw an impressive 14% growth in revenue last year, adding to the franchise’s 20% growth in 2020 and continuing HomeTeam’s impressive record for year-over-year growth. This, in large part, was due to the unprecedented boom in the real estate market, where homes were selling faster and for more money than ever before. Now, moving into Q2 of 2022, HomeTeam is well-positioned to continue satisfying a steadily growing demand for home inspections. 

When the COVID-19 pandemic hit and more and more Millennials chose to embark on first-time home ownership and take advantage of low mortgage rates and a remote work-life, U.S. home prices skyrocketed. Since then, demand has significantly outpaced supply, resulting in a whopping 31% increase in home prices. Now, prices continue to rise at a 17% annual rate, according to statistics from the American Enterprise Institute's Housing Center. In certain cities like Austin, Phoenix, and Tampa, prices are climbing at almost double that rate. 

Although home prices and sales continue to rise in 2022, the overall pace is slowing slightly, as some experts note that the combination of inflation worries, rising interest rates and increasing inventory may mean less competition. The Mortgage Bankers Association predicts that 30-year fixed rate mortgages will hit 4.5% by the end of 2022, which is up from their 4.3% projection a month prior, according to The Mortgage Reports. This could put buyers in a slightly more advantageous position as demand slows and homes stay on the market longer than just a few days.

“While it may not be as hectic as mid-2020, there is no doubt that the housing market is still flourishing, and home inspections are a crucial part of any buying or selling process,” said Adam Long, president of HomeTeam. “Clients and real estate agents across the country are in need of trusted, professional home inspectors, and HomeTeam has established itself as the leading home inspection brand for REALTORS® and homeowners alike.”

HomeTeam Inspection Service is a full-service, independent home inspection franchise serving home buyers, sellers and real estate agents. The brand has built a reputation for providing professional, reliable, efficient and accurate inspections on both residential and commercial properties, focusing on electric and plumbing systems, HVAC, exterior and siding, gutters and draining, radon inspections, mold inspections, air quality reports and much more. Unlike other home inspection services, HomeTeam sends a team of certified inspectors to every appointment in order to provide a better and faster inspection, every single time. 

Over the past year, the brand expanded its physical footprint, opening new locations in 12 states. Additionally, only a month into the new year, HomeTeam has welcomed five new franchise owners into the system who are slated to begin opening locations in Florida, Tennessee, Maryland and Pennsylvania over the next few months. This kind of growth explains why HomeTeam was named the No. 1 Home Inspection Franchise by Entrepreneur in its annual Franchise 500 listing last year. 

“HomeTeam franchise owners don’t need to be certified home inspectors prior to working with us,” said Long. “Instead, the brand helps with training and works with owners to help get them certified and provide them with the tools they need to launch, and run, a successful business in today’s booming real estate market.” 

Now, with plans to open an additional 20 locations before the end of the year, the trusted home inspection franchise is showing no signs of slowing down. 

The initial investment range to open a HomeTeam Inspection franchise is $50,100 to $76,800. For more information visit https://www.hometeamfranchise.com/.