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There is a lot of hype about the real estate market and it is with good reason! Around the nation and locally, much discussion has centered on the strong recovery that we witnessed last year and in turn, what is shaping up again this year.
It turns out that real estate recoveries in general tend to last for 8-year cycles and right now we are about two-thirds or so through a housing recovery. In fact, the Fed finally began to taper its aggressive stimulus program in 2013 after seeing the bounce back effect and positive trends across the board in most markets.
Price Increases, Moving Inventory, Increasing Sales Volume
Moving ahead, we can expect to see an increase in sales prices as sellers realize higher market values with increase demand and continued lower supply. Interest rates remain fairly low, despite continuously rising rates buyers recognize rates are relatively low and housing demand remains high. Increased demand is partly attributed to a stronger economic outlook but also great consumer confidence in the housing market overall. We expect to see increasing sales volumes throughout the year, which will benefit sellers and buyers alike.~
If you or someone you know is in the market or on the fence and considering buying, selling or investing in a property – we invite you to contact us today!
