Conflict: LOW INVENTORY = Rising Price vs RISING MORTGAGES = Lower Sales
Arrowhead Trend in % Change in Inventory by Category; 2017 compared to 2016
Total Homes $150,000-$500,000 $500,000-$1 Million 1 Mil to $8 Mil
Inventory Bottom Line. Rising inventory will tend to push prices lower.
Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in Lake Arrowhead, sellers are in a great position to negotiate. Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense. According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring, typically slowing price increases.
Mortgage Bottom Line. Rising rates will tend to push sales and prices down.
Experts are predicting that mortgage rates will continue to climb throughout all of 2018, reaching as high as 4.9% in Q4.
CoreLogic Home Price Insights
Largest Home Price Gains During 2017 Were in California, Idaho, Nevada, Utah and Washington Home Prices Projected to Increase by 4.3 Percent by December 2018 Affordability Continues to Erode, Especially in Low-Price Range
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Coldwell Banker Sky Ridge Realty, Lake Arrowhead CA, 92352 Since 1982