This is a monthly contribution to the Blog by local realtor Doron Weisbarth
December is usually the slowest month of the year in real estate, with the fewest home sales and the lowest home prices. This year, it is hard to tease out the seasonal effects from other effects, such as declining inflation, mortgage interest rates, etc. You can view the full January Report with more charts, analysis, and insights, at PhinneyWoodHomes.com.
If past years with similar market trends will repeat this year, then we are likely to see increased market activity starting this January. Anecdotally, we are already seeing more active buyers in the market, some brand new to the market, and some returning to the market, lured back by the declining mortgage interest rates and more reasonable home prices. While we may not see the kind of market craziness that we experienced in the past couple of years, I do expect to see more activity, which will help keep prices stable and perhaps even rising.
The next couple of months should give us some clearer indication of where the market will be heading.
Considering selling your PhinneyWood home, or buying one in our neighborhood? Find out what insider tricks and strategies will help you maximize your results. For a no-obligation consultation, call Doron at 206-779-9808.