After 16+ years in real estate sales
"If I had a crystal ball, I wouldn't be....blogging, driving buyers around, calling old friends" I say this in some fashion on a regular basis when friends and clients ask me what to expect "after the election" or "after the holidays."
"Do you think the market will take another dive?" Is one I cringe when asked, this buyer is scared.
Still a seller's world in the Louisville KY Market in 2018?
Personally, I look forward to the day of a more balanced market. This super strong seller's market is dangerous for pricing and patience of buyers. Pricing has gotten out of control for our area and after making it through the 08-11 market meltdown, I prefer slow growth.
Inventory in our area seems to be easing a little bit but it is December and traffic is historically slower. Jan 3 is normally that magic day of acceleration so we are gearing up for a new crop of listings to hit the market after the new year.
While I am sitting on a new construction transaction that looks to finally close after 11 months on a large tract builder site, baffling for this long, it would appear the shortage of skilled labor is still a thorn in the side of the industry.
Oh, and we have ZERO active listings on our team at the moment, everything is under contract quickly
Interest rate.....that magic question
“The realtor.com forecast expects mortgage rates to see 3-4 increases in the coming year and reach 5 percent by the end of 2018 due to stronger economic growth, inflationary pressure, and monetary policy normalization,” according to a Realtor.com source.
Interest rates continue to baffle forecasters and loan officers alike. “The anticipated rise that many of us have been predicting for several years has yet to materialize. As it stands, a forecast for 2018 is for interest rates to rise modestly to an average of 4.4 percent for a conventional 30-year fixed rate mortgage — still remarkably low when compared to historical averages."