Barb Schlinker The Real Estate Voice

The Real Estate Crystal Ball – Where is the Market HeadedSegment 1The Real Estate Crystal Ball – Where is the Market HeadedHome Values Increased over 26.1% in just 1 year! The AVERAGE sale price went up $39,000 in just 2 months!House supply Crystal Balla.Inventory will remain lowb.Building of new homes slowed downc.Rate of appreciation could slow in 2022Today’s Rising Market:Driven by:Supply Crystal Ball – Builders cannot build fast enoughNew Housing units about 4561 in 2020Many quoting 10-12 months to buildLumber supply/construction costs higherHome sales up by 18.6%Sales in past year 16000 (most of these on new constructionDemand Crystal BallProperty taxes affordableHousing more affordable than many areasInterest Rate Crystal BallLow Interest Rates Conventional interest rates about 3.0%VA still in the low to mid 2.25 or 2.5%INCOME CRYSTAL BALLMedian Income $81,000Typical buyer can afford $525,000Add in equity from former home values increase substantiallyMore Equity than everSeeing More Offer with Large Dow