A
new report by RE/MAX sampled MLS data from
53 metropolitan areas in the US and found that the number of home for sale in
November declined 6.9% from October. The
report shows that inventory has declined over the last 4 consecutive
months. The report also compares the
first 11 months of 2017 to 2018, showing home prices have risen 6%.
3 trends are emerging in the
current market:
1. Buyers are grappling with affordability issues and tight
inventory. Interest rates are expected
to increase, edging some out of the market (we
have solutions – CALL US).
2. Sellers are unsure how to react with the prospect of a
cooling market fueled by rising rates and over-heated home prices.
3. Listings that are priced properly are still selling
quickly.
History tells us that we
cannot sustain rising home prices, lowering inventory, and rising interest
rates – look for new trends to develop soon. All three trends underscore the
importance of a professional real estate agent that can navigate an
ever-changing market.
The Easterbrook Team "Makes the Loan Process Easy!"
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