Real estate has been in high demand the past few years. 2017 was a very popular time for people to buy, sell and flip houses. The question starting out in 2018 is what are the home values going to do this year and in the next few years.
Fellow author, blogger and my good friend Josh Mettle has recently done a blog Fundamentals Accelerating Home Values In 2018
Here is a sneak peek at his blog:
Many of our clients are asking where home values are likely to go from here. Is the real estate market ready to take a breather, or worse, are we entering another bubble?
With home prices nationally above or near all-time highs, it’s rational to exercise caution and pause before making a decision to enter the housing market; or making the decision to sell and move up to your dream home. Before we prognosticate the future, let’s take a look how we ended 2017 for some perspective.
These three year-end stats tell me a lot about demand and future supply:
1. New home sales are at the highest level in a decade but only about half what they were before the Great Recession. Builders sold homes faster than they can obtain permits, qualified laborers, and supplies to build new homes in 2017.
2. Sales of existing homes are at the highest level in more than a decade. Demand for housing continues to outpace supply, multiple offer situations will likely continue.
3. New single-family home permits and starts advanced to the fastest pace since August 2007. Builders are trying to catch up to demand. City and county permitting, labor and supply shortages will likely continue to dampen the pace of new home construction and sales.
To read the full blog click here Fundamentals Accelerating Home Values In 2018