I’ve been getting asked a lot lately about the direction the market is headed. Today I’ve got some answers on what I’m seeing happen.
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A question I’ve been getting quite a bit lately is: “Where’s the market headed?”
Right now the market is in its fourth year of climbing, and a lot of people are beginning to wonder how high it can go.
Based on what we’ve been seeing, it’s my opinion that things are going to start to slow down. I think we’ll start seeing a shift into more of a buyer’s market.
However, I do believe that prices will remain somewhat steady for the next two to three years—and we certainly won’t see the kind of drastic change we did in 2007.
The conditions in 2007 were primarily driven by mortgages that shouldn’t have happened, appraisals that were inaccurate, and a number of other unsavory factors that compounded to create an unhealthy market.
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The market is slowing down but becoming healthier.
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Today is a different story. We’re seeing a lot of strong buyers out there in the market. So there’s no cause for alarm, even though we are seeing inventory sticking around a little longer than it previously has been.
Bidding wars are also still going on, but to a greatly lessened extent.
Ultimately, the market is slowing down but becoming healthier.
If you have any other questions or would like more information, don’t hesitate to give me a call or send me an email. I look forward to seeing you, soon.
