Every year in December the market drops drastically. I mean, it only makes logical sense right? Who wants to be showing their home during the holiday season? Having to keep it super clean and ready for showing while hosting get-togethers can be a real pain in the butt.
Now, What happens in January? Well, just to give you an idea, last year in Dec 2018 there were 1331 new listings and in January 2019 there were 3058!!! More than double!
What can we expect this year? Well, from what I can see, we will have an influx of new listings hitting the market. Not as many as what we see in the summer months, but definitely more options for buyers! At the same time, most buyers are still taking advantage of super low interest rates and easier criteria for qualifying for a mortgage.
The Conclusion: I can confidently say that the market will stay strong for the next coming months with no drastic changes. Home values will continue to increase at a low, but steady pace and rents will continue to become more expensive than a mortgage payment.
If moving was one of your new year resolutions, don’t hesitate to reach out so that we can draw up a custom plan for you!
HAPPY NEW YEAR! 🥳