As us Minnesotans would say: Okie Dokie, 2014 is underway so what can we expect from the real estate market.
I can agree with most of the predictions out there right now so let's briefly talk about them.
1.) Home Sales Will Surge- Right now the market has some good momentum. Whether or not it's a bubble is still to be determined but we do know that appreciation is good, sales are quick, and the market in most places is healthy.
2.) Supply Will Struggle to Keep Up with Demand- With the rates pushing up, buyer's are getting anxious, so we might see inventory struggle to keep up. The inventory has been held down for more than a year now so if the buyer demand continues, this could be a continued struggle through out 2014.
3.) Interest Rates Will Increase Significantly- This has already happened but now with the Fed tappering bonds, we could see the rates get to 6% by the end of the year!
4.) Consumers Will Demand More From Real Estate Professionals- The market will be increasingly more challenging with many obstacles along the way so consumers will be looking for professionals to guide them through the process and make sure that everything is squared away.
5.) Go Mobile or Go Home- This is guaranteed. Mobile is the new desktop and it will really show it's teeth in the new year. Be prepared.
Let's see if these predictions come true in2014!
Cheers!
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