Will inventory remain low? Will tax reform redefine where people choose to live? Will it make more sense to rent or own? How does the market move forward from so many natural disasters? Looking into my crystal ball, here are my top eight predictions for 2018: Affordability Affordabilty remains a challenge, and the word “affordable” is a relative term depending on the geography of one’s real estate market. In Silicon Valley that may mean buyers are challenged to find anything decent under $2 million, and for others in typically affordable but fast-appreciating cities like Nashville, trying to find a home under $300,000 may be nearly impossible. Builders aren’t building new housing to meet the needs of first-time homebuyers or those on fixed incomes, which includes many empty nesters due to rising land acquisition costs. Due to the upswing of the real estate market over the past several years, new construction is booming, and the developers are passing the cost of t...
- Low inventory will continue to create stress in many markets. Tax reform may redefine where people live and invest in real estate. Natural disasters will become more concerning for buyers and sellers and have direct financial affects on insurance and sale prices.
Big plans for business in 2018?
Give yourself the tools to own the new year at Connect New York, Jan 22-26, 2018