“How is the market looking these days?”
As real estate professionals, we’re asked this question daily. We hear it from clients, we hear it from friends. We hear it from strangers at parties, and from family at the holiday dinner table. As industry experts, it is an important question for us to approach, but not an easy one to definitively answer.
The ebb and flow of the housing market in the United States affects every aspect of the real estate industry. It causes interest rates to rise and fall, and consumer confidence to swell and fade. Making things even harder to predict is the fact that the market is cyclical – never resting for long on one end of the spectrum or the other.
Without question, the housing market in the United States has shifted in the last year, resulting in a loss of momentum from its peak in 2016. Several key factors contributed:
- Rising Home Prices
- Rising Mortgage Rates
- New tax laws that reduce incentives for homeownership
But while it is true that each of the above conditions has had a tangible impact on our current market, looking at the recent past only tells half the story.
Moving forward into a new year, it isn’t hard to find hope. After all, the economy is humming; workers’ wages are on the rise, and unemployment has fallen to a level not seen in decades. There are strong indications that both homebuyer demand and home inventory are increasing, and could begin to bridge the gap between a stalled housing market, and a national economy on the rise.
So why does the current slump continue? It comes down to one simple factor – uncertainty. The decision to buy or sell a home is packed with pressure, and most individuals get their information from television and online news. At best, the opinions of these various outlets can differ dramatically. At worst, they cause panic and stress by only offering up worst-case scenarios.
So our best answer to the question, “What is the state of the market?” Put simply, it’s fluid. It changes from one day to the next, often in ways that are impossible to predict. And if you only look at it from a national perspective, you may never find the right time to dip your toe in its waters.
It is imperative instead that you look at the opportunity to buy or sell a home from one perspective and one only: your own. With a results-oriented real estate agent serving as your guide, expertise and an established process will be the catalyst for a swift and successful transaction – not the influence of the market at large.
As we head ever closer to a new year, you owe it to yourself to experience what full-service real estate truly means. It’s time to find out how d’aprile properties has distinguished itself as the premiere real estate brokerage in the Midwest.
It’s time to discover what makes d’aprile different.