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by James Stefanile, ABR, GRI, SRES, QSC, gCertified, REALTOR/Salesperson, Berkshire Hathaway Home Services New Jersey Properties, Montclair Office
I recently attended the Spring Housing Update hosted by Jeffrey Otteau. Next month I will have some of the detailed information he shared but there’s one idea that came over loud and clear:
The spring market will be a robust one but inventory is still critically low, interest rates are on the rise which adds some added incentive for both buyers and sellers.
Buyers will lose buying power with each interest rate hike, so time is not on their side.
Sellers will have less buyers who can afford their asking price as buying power decreases so time is not on their side either.
Tax reform is not predicted to have a big effect on the housing market, according to Mr. Otteau, so that should not be a dis-incentive for buyers or sellers.
See you next month with all the details.