We saw some considerable changes from the final six months of 2018’s real estate market compared
to that same time the year before. What were they?
to that same time the year before. What were they?
First, I’m happy to report that average home appreciation rose from $623,000 in 2017 to
$658,000 last year. However, the total number of homes sold dropped off by 11.1%—total sales
reached 10,383 in 2017 and 9,229 the following year.
$658,000 last year. However, the total number of homes sold dropped off by 11.1%—total sales
reached 10,383 in 2017 and 9,229 the following year.
In 2017, home appreciation rose little by little between July and December without ever experiencing
a true surge. From November to December of that year, appreciation topped out at 0.5%.
a true surge. From November to December of that year, appreciation topped out at 0.5%.
Contrastingly, from July to December of 2018, prices seesawed up and down, and home
appreciation dropped by 3.3% to close out the year.
appreciation dropped by 3.3% to close out the year.
So what’s to come for our market in 2019?
Well, I expect appreciation to continue to be a little bumpy, with home prices rising to
somewhere between 4.5% and 5%. And I can say with certainty that no market crash is in sight.
Not only that, the market continues to flourish—unemployment is currently at an all-time low.
somewhere between 4.5% and 5%. And I can say with certainty that no market crash is in sight.
Not only that, the market continues to flourish—unemployment is currently at an all-time low.
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