Our real estate market has been wildly hot for the past few years. It’s even been so good that some people think we’d made another bubble, but we’re starting to see some of that growth slow down. Between January 2015 to 2016, we experienced 11% growth in our market. That is pretty typical from what we have been seeing, but from month to month after January, we have seen that growth trickle slowly down to 8%.
What does this mean for you? If you’re thinking of selling, you may want to do so soon. Prices are still rising, and they certainly won’t be falling, but you may be better off selling your home right now. Most people look to the past to predict their outcome, but I have to look towards the future for you, and our market is slowing down. “Market growth is slowing, but that doesn’t mean it’s a bad time to buy or sell.” I can’t tell you what the future will be like, but I can tell you that growth is slowing for right now. This doesn’t mean you need to rush to get your home on the market, but it’s a good idea to step in sooner than later.
If you’re buying, this slowing is helping you. Remember that interest rates are still very low. This is why you need to call me and discuss all the factors in our market that affect your home search. Give me a call today!