After a somewhat weak fall, the real estate market started to show signs of higher than usual amounts of activity in December and now is extending into January both for the number of homes for sale and the number of buyers in the market.
This is not typical of most years where we normally see a significant slowing in December and I believe it may be attributed to unemployment being so low, as well as the mild weather.
Recently, mortgage interest rates have also taken a dip of about a quarter point due to the volatility of the stock market and other international factors such as the tariffs on China and the U.S. Government shut down. This dip is good news for those looking to buy since the interest rate impacts the payment in such a dramatic way and a lower rate increases affordability.
Indicators are pointing to an increasing number of homes on the market for winter and early spring, though I expect that we’ll see a robust spring market starting as early as March 1st. Even with this increasing supply, I do expect to see a “Gap” in the market where sellers could take advantage to sell ahead of the craziness of spring.
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