August 2018 Market Action Report

This summer wasn't filled with the bustling real estate activity usually anticipated for the summer.  Buyers had an increasing number of choices and more time to make their decision.  Some hot spots and entry level homes still saw multiple offers over asking, but those are getting fewer and farther apart than the past.  Sellers planning to liquidate investments or move out of the area should act sooner than later as the seller's market starts to decline.  It's a great happy medium for buyers with interest rates still staying relatively low, more choices, and more days on market.  Although some buyers may think waiting will get them a better deal, interest rates are still expected to rise and overall homes are still appreciating well and expected to continue to appreciate at over 5% in the next year.  Here's a glimpse at what's happening with interest rates as well.