Jan 5, 2018 by
2018: The Market Is Strong With This One!
Everyone seems to have high hopes for an amazing new year. Builders, Lenders, and REALTORS all see the strength of the economy and have high hopes for 2018.
In the World of Home Building, builders expect to continue the success and momentum of the past 2 years and are looking for 2018 to be even stronger. Demand for Brand New Homes remain high and builders are starting to generate a backlog of business. All of this helps them create partnerships with trade vendors which results in better pricing and busy crews. In fact, the challenges that 2018 will bring to home builders, is the need for the additional workforce and new labor.
Lenders expect 2018 to continue to keep them busy as well. Currently, interest rates are historically low yet we are starting to see some upward movement. With the performance of the stock market, the bond market is under pressure to raise rates to remain competitive. As such, there is speculation that we will see mortgage rates this year, make their biggest jump in nearly a decade and be over 5% in the next few months. As the rates move, it will bring those thinking of buying to act now rather than later.
With more home sales expected in 2018 then even 2017, REALTORS are preparing for another strong year of the real estate market. The challenge of 2017 was not enough inventory for the number of buyers, yet some sellers have been working on getting their homes ready and hope to cash in on the 2018 Sellers’ Market. Agents have been busy preparing properties for listings to hit the market in the 1st Quarter.
The economy as a whole is on stable footing. Employment is up, the financial markets are strong and economists all seem to indicate this trend will continue. As such, the security is there for both buyers and sellers, that 2018 is going to be a year of record activity. Let’s work together and make this your year to prosper too.
Stephen Turner is a full-time REALTOR in Central PA, as well at the most sought-after consultant for Brand New Homes and Home Builders in the Mid-Atlantic. Since 1997 he has been leading sales of New Homes for many of the top builders in Maryland, Delaware and Pennsylvania. Partnering with Coldwell Banker Residential Brokerage has allowed him to grow his business and offer even additional services to his clients. If you need help working with a builder or looking to build a brand-new home of your own, put Steve Turner on your side and help protect your best interests. He can be reached at SteveT@TheSteveTurner.com or 717-461-2321