A little late in posting this here at my blog, but my annual real estate forecast for the year is live. If you are thinking about buying, selling or investing, reading my forecast would be a good initial step. I am sharing the summary below. Please reach out if you would like a copy of the full report:
Summary:
“If you are a buyer, do not wait! Buy as soon as possible because most buyers are still not active in the market. By late spring and early summer, they will all jump in. That happens every year – please see the chart on page 1. The purchasing power of many buyers is restored, or is likely to be restored, because of the wealth effect and, to a limited extent, the silver tsunami effect. The challenge is the super low selection of homes.
If you are a seller, your timing depends on your goals. A benefit of selling right now is to showcase your property when we are virtually sold out. A benefit of waiting until spring/summer is exposure to a much larger buyer pool. The decision boils down to your overall ambition. If you are also looking to buy, a deeper conversation
may be needed.”