Can you guess the number one question I get asked at Starbucks, my kids’ sports events, or church?
The person asking the question typically knows that I’m in real estate.
They ask – how’s the market?
In 2018 Fresno County sold over 9,000 homes! That’s a great year!
Our average sales price increased 3% – that’s not as high as in year’s past, but the slowing up of appreciation is healthy. Nobody needs prices to get out of control.
The biggest shift in our market has been inventory.
A year ago it was challenging for a first time buyer to find a home and today, with over 20% increase in the number of homes for sale, buyers have just that – more choices.
Interest rates are at or below 5% at the time of this recording and this is the real wildcard for the 2019 forecast.
While I don’t have a crystal ball that works – the outlook for 2019 is good for residential real estate- a balanced year of supply and demand with modest price appreciation.