What to Expect in 2019
Trends in 2019
The market is changing and we go over the most important things you need to know going into the new year. Are you a buyer? Make sure you keep an eye on interest rates. Thinking about selling? Make sure you are priced to sell because it will be a competing market.
- From extreme sellers market with multiple offers until the shift started in June to market correction
- Market correction - buyers see correction first because interest rates go up which means homes get more expensive and sellers lose buyers
- We have seen about 6 years of increases in prices, interest rates, etc. and people move every 2-3 years and we have now started to see the change
- Some market predictions include sales to increase
- Price crunch on home sellers due to current rise of interest rates to 5.75% - 5.85%
- When interest rates, if you are seller, your pool of buyers goes down
- Sellers must drop the price in order to compete with their neighbors and not sit on the market
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