My team and I pride ourselves on being experts at the local and national real estate market and trends. I recently read a Forbes.com report that I wanted to share. Many of you may have heard on the news that for the first time in recent memory, the real estate market is “showing signs of softening.” So what does that mean for us? While market prices overall are still rising, they have slowed to a much more moderate rate of increase nationally and are starting to slow locally as well.
Right now, mortgage rates have dropped, but trends indicate that buyers are still taking their time and acting conservatively. Inventory of homes for sale also plays a critical role. Forbes reports that nationally the mid-to-low price range homes have decreased in inventory, while upper range homes remain plentiful. Additionally, builders are facing obstacles that have slowed their production, such as land and labor costs, price of materials, etc.
I’ve recently read a book by Gary Keller called The Shift. Its a great tool for learning how to navigate the real estate business during a market shift such as the one we are beginning to experience. The good news is that while there is a softening, this does not look to be a hard dip. In fact, the market is primed for a rebound during the last quarter of 2019! Texas and San Antonio are still very strong markets where steady growth and good cost of living keeps us insulated from huge swings in prices.
As we slide into the 4th quarter, I look forward to being a part of the process of helping people who want to win with real estate. Many people are still wise in wanting to buy, sell, or invest in real estate. Word of mouth and referrals are the most important way that I can continue to grow my business. A referral from you means the world to me and my team. Any time you hear of someone who is interested in buying a home, selling a home, or investing in real estate, please call or text me at 210-288-0484. I would love to help.