The Market As I See It; Spring 2019
Pressing Pause – 2019 is turning out to be a year of pause. Currently, there is a demand for housing, appreciation rates are back to normal, days on market are increasing, baby boomers are staying put, and first-time home buyers are challenged with large down payments and competing for the perfect home.
Cautious Optimism – In the first quarter of 2019, residential sales flattened and the market adjusted. Last year’s seller’s market has now turned into a more balanced market. Prices have calmed, and a sense of order seems to have been restored. April 15 YTD closed sales last year versus this year are about the same. We are experiencing a cautious optimism.
Challenges – Shortage of good inventory still ranks as our No.1 challenge. Reported economic uncertainty is the second greatest challenge to our real-estate market.
New News…Coldwell Banker/NRT again captured the No. 1 ranking for sales volume in the United States, closing 346,629 homes last year. Our fearsome new leaders are committed to presenting us with even more technology, marketing tools, and internet presence for sellers and buyers in 2019.
Forecast – We expect home sales to tick up in the year ahead as home prices level off and inventory gradually improves. A good sign: stagers, inspection companies and renovation contractors are committed and scheduled out for months. Lower interest rates are increasing buyer affordability.
More than ever your experienced agent can help you navigate the local realities and challenges of the current market and help you dictate a positive outcome…
