We're taking a look back over 2019 - what were the experts predicting for the 2019 real estate market, and how have we performed thus far?
At the beginning of 2019 experts predicted
- inventory levels increasing
-the market neutralizing and slowing slightly
-interest rates increasing well over 5%
Here is what we've seen so far...
2,351 homes sold this year in the South Hills
Average days on market right around 51 days.
All at an interest rate of around 3.8%
We've had a great year thus far!
What does all of this mean? For buyers, experts are still predicting rising interest rates, but not to the extent that they originally predicted. By the end of 2020, they are predicting interest rates right around 4.2% (instead of well over 5%). The market is still very competitive, so buyers should be prepared to act quickly on attractive homes.
For sellers - it's a great time to sell! Low competition and high buyer interest makes for a great seller's market!
As always, if you ever have any questions or are thinking of buying or selling, send us a message! We're happy to answer any questions you might have!