2018 Real Estate Market Stats
The facts of residential real estate have remained consistent in 2018. In year-over year comparisons, inventory is lower in most locales, and yet homes sales continue to rise. Although the Federal Reserve’s latest rate hike deterred some buyers at the end of 2018, 2019 looks a little more promising with the Fed Reserve indicating half the amount of hikes, thus in theory creating a more balanced market. With unemployment rates low and wages starting to increase, we are hopeful inventory will increase, although, the biggest concern continues to be affordability.
2017 vs. 2018 Quick Stats: Closed Sales -4.8% | Median Sales Price +5.1% | Days On Market -6.8%