This is Christina Swain with The Swain Team of Keller Williams. Our local housing inventory is scarce. We did not see many homes come on the market in January. Often sellers want to wait till the spring to sell when really now is ideal. Think about it… If everyone is waiting for the spring to sell there will be more houses on the market then. Sell now while there is no competition and before rates go up.
We are starting to see homes values grow at a slower pace despite the low inventory. Nationwide, home prices only increased by 4.7 percent year-over-year and 0.1 percent month-over-month in December, a stark drop from the yearly average of 5.8 percent and a signal that a buyer’s market may be approaching.
In 2019 Core Logic is projecting home values to rise only 3.4%. A main factor most likely driving the decrease and the change in the market is the fact that mortgage rates have been on the rise and are around 5%.
If you are thinking about selling in the future come out to one of our upcoming educational Home Selling Seminars where we teach you how to new the most for your home. Remember there is no cost or obligation. Attendees always rave about how informative the seminar is. Even if they are 5 years away from selling.
Until next month I am Christina Swain with The Swain Team of Keller Williams