Are we in a real estate bubble? I’m here to answer this question today.
We are certainly seeing changes in the market right now and things are shifting. We saw interest rates increase several times this year, and we may see them increase three more times in 2019. However, let’s keep things in perspective. Right now, rates are right around 5% on average. From 2009 to 2011, they were over 6%.
Overall, the housing market has continued to be solid. We’re seeing a bit of a slowdown, to be sure, and a slight decrease in home appreciation. That’s not necessarily a bad thing, however. There are still more people moving here than there are moving away. Things are changing, but we’re definitely not in a bubble.
“We should continue to see a solid, stable market for the next few years.”
We’ve been working on some programs with our lenders and sellers to offer a bit of an incentive to still get people qualified for a home affordably. We’re always at the forefront of this and looking out for the best interests of our clients.
We’re still in a very good market and hope to continue to see a solid, stable market for the next few years.
One thing I wanted to note is that if you’re currently moving or considering a move and you need to donate some things, the Salvation Army has a great program where they’ll come and pick up everything and donate it to a great cause.
If you have any questions about the market or about real estate in general, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
