Anyone Out There Have a Crystal Ball?
Posted December 22, 2018 in Real Estate Trends
2018 was a good year in Clark County real estate, by most measurements: demand has remained strong, prices have increased, and the volume of transactions has been mostly steady. Interest rates have risen, but remain quite low when viewed historically. New construction has been robust. The last few months of the year have seen some cooling of the market, but the decline of multiple offer competitions between buyers has allowed more buyers to find success in their search for a home. The ability of the average Clark County family to afford the average home continues to be an issue with no easy solution on the horizon.
What about 2019? Without a working crystal ball, all I can do is listen to predictions by others and most experts are predicting:
- Home price increases will slow;
- Interest rates will continue to rise;
- Millennials buying homes will be a huge factor; and
- Inventory (listings compared to sales) will increase.
That may sound bad, but it’s really not. We’re going from red-hot to hot. No one I’ve heard is predicting doomsday for Clark County real estate. While there is a lot of talk about an inevitable recession on a national level, it’s likely to be a picnic compared to the “off the cliff” real estate downturn of 2008.
Clark County Title will be ready to team with you and your Realtor to accomplish your real estate goals in 2019. Please call our friendly, professional staff if we can assist you.
From your friends at Clark County Title, we wish you a Merry Christmas and Happy Holidays!
Clark County Title
1400 Washington St, Ste. 100
3200 SE 164th Avenue, Ste. 219
Vancouver, WA 98683