Crystal Ball for 2024
With very few exceptions, the housing market begins every year with a question: what will this year’s housing market bring? The truth is that projecting beyond a few months enters one into the field of guessing, as there is no real estate Nostradamus. But there are data points (courtesy of the Cromford Report) that tell…
The Market Changes Yet Again
“The report of my death was an exaggeration” — Mark Twain 2022 ended in a whimper. After a promising spring buying season, the market sagged under the weight of affordability issues – largely courtesy of rapidly rising interest rates. The seemingly unstoppable sellers’ market that began the year, in fact stopped. By November and December…
How’s the Market?
About that real estate market of ours – it certainly was impacted by the pandemic. Perhaps the biggest surprise to most people is what the actual impact looked like rather than what they assumed would happen. Let’s examine the impact in the key areas that compose a real estate market. Prices The primary concern for…
Sellers drag their heels
The market is on the cusp of the “spring buying season” and early prognostications are beginning to form. As with all economic markets, supply and demand determine our market forecasts. Typically we see one side of the equation having a bigger impact than the other – a situation that our market is currently experiencing. Demand…
Supply Tightens
In our last paper we discussed demand and its strong rebound (up 8%) from 2018. But we didn’t expound upon the supply side of the story. We will now attempt to remedy that. While demand is more elastic (and therefore perhaps the sexier story) supply might actually be the buried headline. The valley has been…
April Showers Bring May Flowers
The strongest time of year for the valley’s real estate market is typically our “spring buying season” – March through May. This year is no exception – but it could have been. We ended 2018 with a rather lackluster market due to anemic demand. Entering 2019 it looked like the market was heading towards a…
The Spring Market Awakens
After a slow and non-spectacular beginning to the year, the market appears to be finally waking up. March heralds the beginning of the spring buying season – so prognosticators watch closely for signs of market health. In the valley the supply side of the economic seesaw (supply & demand) has been fairly stable, if persistently…
Supply and Demand Seesaw
The seesaw of supply and demand is our best barometer of the health of the housing market – so naturally we closely watch it. We have been in a seller’s market for such an extensive period that like most veteran agents, we are expecting a correction. A rebalance of the market we hope will come…
Is the Housing Market Losing its Steam?
Recently national housing statistics have made headlines regarding the diminishing demand of homebuyers. This is understandably unsettling to homeowners in the valley who recall all too well the housing crises where supply and demand went topsy turvey. As interesting as it may be to listen to national housing statistics, they are generally antidotal. Even in…
Sellers Continue to Hang on to the Power
While some areas of the nation are at long last reporting a slowing of sales, the valley’s market is continuing to power forward both in rising sales and appreciation. Real estate has always been area specific, so while national trends are interesting, they are not particularly meaningful when interpreting a local market. New listings to…