What’s in store for the real estate market in 2018?
Recap of median property values:
From January of 2013 to 2018 we have seen significant gains of 30.6% with 5.6% in the last year alone! I have heard people talking about another bubble forming, but these gains are all a market recapture from the significant losses from the major drop in real estate values 6-10 years ago. We are getting back to the average and where the market should be. I am predicting another steady year of growth of 3-5% in 2018.
We will see that gain due to buyer demand as the months supply of homes is at 3.8 which is still a sellers market. A normal healthy real estate market is in the 5-6 month range. Also, the homes for sale percentage is down 11.9% from January of 2017 to 2018.With interest rates going up further this year and the employment market getting better, it will push more buyers off the fence to purchase or move up. If you add that to the low inventory it will push home prices higher again this year.
Want to know more about what is going on in your real estate market? Contact me today and I will send you more information on your specific market you are interested in.
EXIT Real Estate Partners was founded in September of 2007 when we recognized the benefits of EXIT Real Estate Corp. International.
EXIT Real Estate Partners is a full service Real Estate Company dedicated to quality service for their clients' needs. This website is provided to assist you in becoming a better informed buyer and seller of Real Estate. If you have any further questions, please feel free to call our office or contact us by email, we will get back to you promptly!
"Tom, Thank you so much for your help and guidance throughout this process. We really appreciated all of your advice and help. We couldn't have done it without you. Also, thank you for the basket of goodies! Everything came in handy!