What to Expect This Real Estate Season
Each year, economists, real estate experts and lenders make their predictions for the coming season’s real estate market trends. New England Title CEO, Hugh Fitzpatrick, shares his take on what’s happening and what to expect, in the New England market.
Lack of Inventory. The number of homes on the market this season is much lower than expected. This is driving up home prices which, in turn, is making for a very competitive marketplace for homebuyers with higher than average selling prices.
Will There Be a Market Surge? While many real estate pundits predicted a market surge for Spring 2017 because of the lack of inventory, that surge is highly unlikely.
It’s a seller’s market. Home sale prices to date for 2017 are definitely up from last year. We’re seeing homes sell in record time, with many going for well above the asking price. 2017 is, without a doubt, a great time to sell.
Check out Hugh’s video to hear his predictions for the New England real estate market.