From the home sales analysts at Pulsenomics comes the latest findings on how home sellers are likely to fare if they decide to list their properties this autumn. Our Twin Cities market is only one data point in national surveys like this one—but Pulsenomics has a history of accurately zeroing in on the direction of real estate activity. For Twin Cities homeowners who are exploring selling their house anytime within the next few years, that’s worth checking out.
The major points covered in their most recent release:
- Home value appreciation has improved in 2018 over 2017, with a predicted growth by year’s end of just shy of 6%. Since that’s the bottom line demonstration of the continuing investment value of owning your own home, it keeps home sellers in the power position in negotiations.
- The speed of that same appreciation has begun to slow in more than half of the nation’s metropolitan markets—suggesting that the days when sellers hold the upper hand may be numbered.
- Appreciation in home values remains above the historical average.
- Inventories at the most affordable price points continue to lag—another factor which encourages selling.
The report is a compilation of the opinions of more than 100 real estate economists and experts whose overall prediction is that sellers’ market conditions will likely continue in most places through 2019; then possibly tilting toward buyers at some point in 2020.
The character of the real estate market is one factor that helps homeowners decide if conditions are favorable for selling their house. Another is the actual data—the recorded sales for similar homes in the immediate vicinity—the “comps.” We’ll be happy to share an in-depth a look at how properties similar to your own have been fared recently (with no obligation, of course). Just give me our RE/MAX Preferred office a call!