Enjoy this Housing Market Watch Report for the Davidson County Real Estate Market for the 1st QTR of 2019. View interactive charts with DOM, inventory levels, number of closed listings and Median Price Ratio.
National Association of Realtor Economist, Lawrence Yun, forecasts modest price growth in 2019 between 2% to 3% instead of 5% or more as in recent years. We will still be in a Seller’s Market, but in high price markets, sellers might have to offer incentives to buyers. In these markets, in particular, there will be less bidding wars and multiple offers as seen in 2018. The lack of inventory supply is expected to ease some with inventory rising from 7% to 10%. However, this increase in inventory will go toward the mid to high-end market homes priced above $250,000. This inventory increase will not help first-time homebuyers. Interest rates are expected to increase to 5.5 per cent by the end of 2019 causing affordability issues for some first-time homebuyers. This April will be the first time people will see the results of the tax reform when filing their taxes.
Our Real Estate Market in Davidson County and the surrounding Triad Piedmont Area is still in a Seller’s Market. Our supply is still not outpacing present buyer demand. The healthy economic conditions in the United States is encouraging homeownership. First-time buyers who have been on the fence want to purchase a home before the mortgage … Continued