Market Update – February 2019

As many of you know, the 2018 real estate year began with a red-hot seller’s market. Everyone noticed how houses were just flying off the market. If you put a house up for sale in the spring, it was gone in a few days. Given the thriving economy, it came as no surprise when the Federal Reserve raised interest rates in both March and June. Throughout the summer, the market remained strong; it was taking longer for houses to sell, but business was as busy as ever. September brought another rate hike, and it suddenly seemed that a red-hot seller’s market had become a buyer’s market. If you are a buyer, now is your time before more rate hikes and while there is still plenty of inventory. Sellers, hang in there. Your homes will sell but not perhaps as quickly as you would like. This is not a bad thing; it is just the market right now.

Original author: Mack Farquhar, Realtor, Iron Valley Real Estate of York County