How is the continued impact of last year’s market conditions influencing real estate in 2019? Find out in today’s update.
With 2018 well behind us now, the 2019 market is beginning to take shape. In today’s update, I’d like to share how last year’s market is continuing to impact current conditions, as well as offer some insight into as to what we can expect moving forward.
2018 started out strong. However, high sales activity in the first and second quarters, which came largely as a result of pent-up demand, eventually led to a lack of inventory by mid-summer. Buyers grew tired of multiple-offer situations and, as a result, the market slowed in the last two quarters of the year.
As we progress further into the new year, last year’s market slowdown has continued to impact current trends. That said, the low inventory and diminished buyer activity won’t last forever. If you’re thinking of selling in 2019, don’t wait. The market is sure to see a surge of supply come spring, so you’ll be better off listing now. The more homes that hit the market, the higher your competition will be.
Buyers, too, are currently faced with a window of opportunity in our market. Interest rates have recently dipped, but they won’t stay low for long.
Ultimately, our market this year will hold strong benefits for buyers and sellers alike. As conditions balance out, buyers will have the chance to buy at a fair and reasonable price, and sellers will be able to earn a great deal as well.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.