2017 was a good year for real estate. Both prices and demand were up and inventory down from 2016. The 2018 real estate market will continue to be more of the same. With the potential for higher interest rates that will put added strain on affordability, 2018 may see a slight slowing in demand and pricing. However, the seller’s market will continue.
Unexpected events may curtail the real estate market’s trajectory but I think odds are low. Even though prices are high now, by this time next year I expect them to be even higher. I’m not sure how long we will sustain the uphill climb but I think we have at least one more year of it.