Thursday, October 19, 2017

All Your Real Estate Questions Answered


Today I want to take the opportunity to answer some questions I’ve been asked recently about our market.

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Here are some important questions I’ve been getting asked recently about our market and my answers to them.

“Is this still a seller’s market?”

Yes, it is. We’ve only got about two months of inventory and as long as that number stays under six months, we’ll remain in a seller’s market.

“What does the current housing inventory look like?”

Like I said, we currently have two months of inventory, and I don’t see a big change coming in the future. We’ve been at two months of inventory for the last two months, and before that we were as low as 1.6 months. Inventory may creep up as far as three months, but it should stay how it is for a while.

“How does the current inventory affect home values?”


We all know the real answer—as long as we’re in a seller’s market, the price of homes will rise. As I’ve mentioned before, home prices have risen 10% in the past 12 months, and they’re expected to continue at that pace.


We expect home prices to continue rising for the next several years.



“What can we expect from interest rates?”


That’s the good news for both buyers and sellers, because we expect them to stay fairly steady for the next 12 months. It might rise slightly but it won’t do any sharp increases. This will help make homes more affordable for buyers and help sellers have quicker sales.

“Is there a chance we could see a collapse in our market like in 2007 and 2008?”


According to experts, we have more controls and safeguards that will prevent a market collapse from happening. On the contrary, we expect home prices to continue rising for the next several years. As a seller, that’s good news. As a buyer, the sooner you make a purchase, the better off you’ll be.

If you have any more questions you’d like me to answer or you’re thinking of buying or selling a home in our market, don’t hesitate to give me a call or send me an email. I’d love to help you.

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