Below are 3 expectations for the real Estate Market of 2018. Keep in mind this is a national forecast. Local markets such as Somerville, Bridgewater, Raritan, Branchburg, Hillsborough, Warren and others can differ from these forecasts.
The first expectation of 2018 is for inventory to remain low, although pick up slightly compared to 2017. The biggest reason for this modest optimism is that the current situation is unsustainable. Prices cannot rise faster than wages forever. Plus, life events will eventually force reluctant sellers off the sidelines. Home search site Trulia found that 31% of Americans believe 2018 will be a better year then 2017 to sell a home, far more than the 14% who this it will be worse. (Though only 6% of homeowners say they plan to sell.).
This post first appeared on Bridgewater NJ Real Estate, Homes For Sale In Brid, please read the originial post: here