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What is the consensus on the Trump impact on our local real estate market?

After speaking to agents on broker preview the last couple of days, I think we can divide the buyer pool into two camps:

  1. There have never been more reasons to wait-and-see.
  2. But some buyers will want to hurry it up, before anything else happens.

Yellen made it sound like the next Fed move is imminent, which hopefully means next month.  There is 1/4% (or more) already baked into the market, so if they do bump the Fed Funds rate, it should have a calming effect on mortgage rates – it did last time.  If we can stay around the current 4%, it should motivate people to buy before it goes higher.

But there is also the anxiety that comes with buying or selling that gets aggravated by uncertainty.  Have you ever felt more desire to hunker down??  The motivated buyers and sellers want to get it done.

I think we will see a very active selling season – and it already is!

NSDCC October Sales and Pricing

Year
# of Detached-Home Sales
Median Sales Price
Average Cost-per-SF
2012
297
$825,000
$388/sf
2013
266
$957,500
$495/sf
2014
244
$978,754
$467/sf
2015
216
$1,076,000
$473/sf
2016
263
$1,100,000
$532/sf

Our current momentum should carry us well into 2017. But look at the stumble in 2014 – I’m more worried about 2018.

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