The weather is warming and so is the real estate market
Posted April 14, 2019 in Real Estate Trends
There is often a seasonal nature to Clark County real estate: sales of existing homes (as contrasted with new construction) peaked in August (947 sales), then cooled down in sync with the weather, reaching its low point in January (423 sales). But, have you looked outside lately? The sun is shining, trees are blossoming, and the real estate market is warming back up with it!
Last year saw a few threatened thunderstorms of rising interest rates. Now, continued low interest rates are keeping buyers looking at homes. And when buyers are looking, sellers don’t want to miss out on their chance to move up, down, or across town. The result has been a slightly higher inventory of homes for buyers to look at, but it’s still a very competitive market in the first-time homebuyer and “move-down” price category. And new homes, not included in the statistics above, have been a steady part of the market, averaging over 140 homes sold per month for the past year.
If you’re a regular reader of this space, you’ll recognize a theme: the real estate market is nearly always changing. Prices fluctuate, interest rates fluctuate, and even things like weather and the school calendar affect the market. You can see why getting a clear forecast of the real estate market is tricky. Just like a TV meteorologist, we look at trends and historical patterns to figure out if sunshine or storms are headed our way.
Making adjustments to an ever-changing market and exceeding expectations–doing more than expected and brainstorming solutions—has been the key to the success of Clark County Title since 1980. We’re ready to team with you and your Realtor and lender to help you buy, sell or refinance. Please call our friendly, professional staff if we can assist you!
Clark County Title
1400 Washington St, Ste. 100
3200 SE 164th Avenue, Ste. 219
Vancouver, WA 98683