The Real Estate Market has been a beast over the last year. With mortgage interest rates still historically low and the percentage of home ownership on the rise (Thank You, Millenials), there have been plenty of sales to go around in 2017. Now
that the year has come to an end, what is the outlook for the Real Estate Market Yet to Come?
While 2017 has been a tough year for buyers, given such a low amount of inventory, the outlook for 2018 looks promising. According to many national real estate companies, it is predicted that home price appreciation is going to slow over the next
year, which will – hopefully – increase the amount of inventory.
Some sources expect inventory declines to slow to 4 percent year-over-year by March, with an uptick in inventory coming in early fall 2018 for homes in the $350,000 range. However, buyers looking for lower-priced homes will have to wait a little
bit longer for a reprieve, as home price appreciation for starter homes and lower priced homes is expected to stay robust until housing starts pick up to meet demand. All of this information suggests that 2018 – the “Yet To Come” – looks good for
Sellers and Buyers (but, those buyers will have to act quickly if they see something they like, as inventory will continue to be tight, at least in the beginning of the year).
If you are thinking of Selling your Home in 2018, give us a call – we will give you a free home estimate and will show you what the Salas Team can do for you!
Source: Marian McPherson, InMan News.