January 22, 2019

​​​​​​​At the end of 2018, the market had shifted from a seller's market to a normalized market. Generally speaking, home prices had declined slightly as mortgage interest rates reached an 8 year high of 5% in October 2018. However, home prices are still historically very high. We anticipate a strong spring selling and buying season as mortgage interest rates have fallen below 4.5% which creates a good opportunity for buyers to lock in a lower interest rate. Buyer demand is strong now that we are out of the holiday season and buyers are taking advantage of the lower interest rates.