What to expect in the real estate market in 2018.
While 2017 saw a rise in prices and a drop in inventory, 2018 should see prices grow more slowly and inventory increase in the latter half of the year.
Construction of new homes is increasing, especially in the upper tiers, which will slowly make its way down to the lower tiers. This growth will start in the suburbs, with millennials leading the way in search of more affordable prices.
The largest generation in U.S, history has reached
the place in their 20s and 30s when they are ready
to start families and need homes. They are motivated
to buy, but shouldn't wait too long as interest rates are expected to reach 5% by the end of 2018.
It will still be a great market for sellers, though
prices will grow more slowly.
Whether you are selling or buying a home, you need
an expert on your local area who can advise you. Chris and Victoria Garfield of John L. Scott market Center Real Estate live in the Forest Grove/Hillsboro area and are aware of the market changes, desirable locations and good school districts you are looking for. They will help you get the best price when you are selling a home.
Call Chris and Victoria today for all your real estate needs.
JOHN L. SCOTT MARKET CENTER REAL ESTATE
1936 PACIFIC AVENUE
FOREST GROVE, OR 97116