Tuesday, January 08, 2019

2019 - The Year of Readjustments...

Happy New Year!

The year is off and in full swing already and we are excited about the opportunities 2019 could provide and hope that you are as well!

2018 was a great year for our state and our region.  We were excited about how the real estate market performed, how the local and state economy performed and are cautiously optimistic that 2019 will be another strong year.  Below are some items you may be interested in:

-NC's economy is expanding...
-8500+ Jobs Announced!
-Triad's Megasites Earning Global Attention
-New State Laws Bring Additional Tax Changes and Infrastructure Investment

What about residential real estate?
The United States is currently in the third biggest housing boom in history.  Housing is up 53% in this cycle and we are in the second longest economic expansion in history.  The question of course will be how long will it go.  But the economy is in great shape despite the ups and downs of Wall Street and the complications of the real estate market.

In 2019, we'll likely see some READJUSTMENTS in the residential real estate market and return to a more balanced marketplace.  It'll be important to watch some key metrics in the Triad of North Carolina...those include:
  • Days on the Market - likely to see those start ticking up from years-long low
  • Inventory - already starting to see an increase here 
  • Number of Showings - currently we are seeing the median around 11 
  • List price to Closed Price - we have been very high over the last two years or so and this is likely to decrease as more inventory becomes available.
  • Appreciation - we have seen solid appreciation rates over the past couple of years of which it may have peaked and we are already seeing in some of the largest markets in the state, start to come back down.  This will be the case in our region as well.
But with all of that, 2019 will be a HEALTHY and GOOD real estate market.  But if you are thinking about selling, be open to important conversation about appreciation and what you can expect.  If you are buying, it'll be important to pay attention to the factors and metrics that can help you make important and informed decision.  Here is a good article about what to expect when buying a home in 2019 and how best to prepare.

Quick Announcements we are proud of:
2019 will be a busy year for our team...a couple of announcements because we believe that being active in your professional industry is important...

-Brooke Cashion has been named the 2019 Federal Political Coordinator for US Congressman Ted Budd and the 2019 Image Committee Vice-Chair for the North Carolina Realtors Association

-Jake Cashion has been named the 2019 Chairman of the NC Realtors Global Network and will be traveling to Cannes, France in March to help showcase and connect North Carolina to international business and therefore greater economic development opportunities for the state.  As well, he has been appointed to the 2019 Business Issues Policy Committee for the National Association of Realtors.

Team Member Hollie Breazeale was awarded the 2018 Rising Star award by the North Carolina Realtors Association.

It's important to be prepared and that's simple...just let us know and we are happy to add you to our MarketPlace Report - this is a FREE monthly email that shows real estate activity in your neighborhood and keeps you abreast of any changes.  We are happy to simply set you up - just ask!

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