We all know that our economy has been at best shaky over the last several years. With Washington not agreeing on what to do next, what impact does that have on the real estate market in the upcoming months?
Whether you were pleased with the election results or not, we have to admit that decisions now made in Washington will dramatically affect us in the upcoming months. The National Association of Realtors chief economist, Larwence Yun, paints for us a cautious picture of where we are at.
There is a new wave of recent layoffs. These will counteract the 4.5 million jobs that had been recently added. Yun basically says we are treading water.
The housing price increases we are seeing will continue.
Low inventory coupled with low interest rates and high demand will continue to drive prices upwards. Investors all over the world are taking note of our historically low prices.
Regardless of what happens to the economy, one thing that will continue to prosper is real assets (ie: Real Estate). If you have enough for a down payment, now is the time. With low prices and potential inflation on the horizon, real assets will prosper.
Inside the Numbers (six-month trends for):
Parkview: 215 homes sold; 83, average days on market; $145,050, average price
Parkview: Own your own piece of heaven!