What can you expect from the 2018 real estate market? We want to share our forecast with you today.
Since the real estate market was strong in 2017 and we expect it to continue to be strong in 2018, interest rates should go up. The Fed will probably raise interest rates two or three times in 2018.
According to what we saw in 2017, you can expect more low inventory in 2018. We will continue in a strong seller’s market because of strong buyer demand.
As we continue to add more people to the Wasatch Front through job growth or people having children, we are going to continue to see strong demand going forward, which will also cause prices to continue to go up.
If you plan on selling your home, you want to make sure that you justify your pricing, even if you are in a strong seller’s market. Reach out to a real estate professional like us. We can definitely help you with pricing.
“Strong demand will cause prices to go up in 2018.”
When you sell your home, chances are your buyer will use financing to purchase the house. That means you are selling your house twice, once to the buyer and once to the appraiser. The home has to appraise, or else nobody wins.
If you are a first-time buyer in the $200,000 to $300,000 price range, it’s especially important that you are prepared to be very competitive with your offer. You need to be able to move fast. We have a number of different tips that you can help you succeed in this market.
This is a general forecast for our local real estate market. If you would like more specific information for your neighborhood, or if you have any other questions, just give us a call or send us an email. We would be happy to help you!