We are constantly reading articles on the state of the market, where we see it going in the next few weeks, months and years.
Consensus from economists is that by 2020 we should revert back to a buyers market. Right now we have a unique recipe that is contributing to that:
- low supply of homes
- high demand
- rising interest rates
- growing economy
- record low unemployment
- millennials entering the market later
- tariffs on construction materials slowed down building because of increased costs, now they are seeing more activity of late
We expect the inventory to remain low and prices to correct a little bit through 2020. Time will tell!