Market Update: February
Hi ladies and gentlemen,
Below I'll be going into the existing supply of affordable housing, the current interest rates, and how demand is continuing to grow in our area.
“The spring homebuying season is almost upon us, and if rates stay lower, inventory continues to grow, and the job market maintains its strength, we expect to see a solid spring market.” Mike Fratantoni Chief Economist at MBA.
Interest Rates Decrease:
Due to interest rates remaining low, and inventory increasing the Chief Economist at NAR, Lawrence Yun, the Chief Economist at Zillow, Aaron Terrazas, and Freddie Mac all agree that the supply and demand is leading us into an increase in existing home sales. New construction home sales are expected to remain flat. Existing home prices are continuing to appreciate, but it is at lower levels than the last few years. The market is not depreciating, but the rate of appreciation is decelerating.
Our biggest challenge is the availability of supply. Low inventory coupled with sustained demand creates an opportunity for sellers to capture a higher sales price due to less competition.
2019 will be a great year to capitalize on your properties equity.
Keep more money when selling your property!
Fill in the information below to find out how much your house would sell for.
All the best!