Spring 2019

What will our local market look like this spring?  The spring housing market will typically see a sharp increase in our housing inventories. However, due to an increase in our median price point, less buyers are going to being able to enter the market. I believe it will be slower than many expect. The continued threat of rising interest rates will also adversely impact our market. New construction or housing starts in our area continue to be slow, due to the higher cost of materials and high costs associated with site preparation and infrastructure. Looking forward, I see a modest real estate market in the days ahead with increased inventories on the higher end of our market, where the reality of the new tax laws limitations have become an issue. These high end home owners are seeing their tax deductions reduced to just 10,000. If your starting your search for a home this spring, get an early start in order to not be competing with other buyers, often being forced into a bidding war which results in paying more then necessary.