December 2, 2018
By Rey Post, Associate Broker, Sotheby’s International Realty & Host of the “All Things Real Estate” Radio Show
Each week this December, I will offer some thoughts on what we might see in our local and national real estate markets in 2019. This week, let’s take a look at what Realtor.com is projecting for the market in the New Year.
The respected online real estate website suggests that we should look at rising mortgage rates to play an even greater part in affordability, slowing the market for sellers and impacting buyers. The website further offers that home prices are still expected to rise, though at a much slower rate than we’ve become accustomed to. Realtor.com forecasts home prices to increase by 2.2% nationally.
These are national trends that do not necessarily portend for what will specifically happen in your local real estate market. For instance, in the Santa Fe real estate market, Sotheby’s International Realty (SIR) is anticipating more than $850 million dollars in sales activity in 2018, with an anticipation that the New Year will continue to bring solid home buyer and seller activity.
SIR’s roster of home buyers in 2018 have come from over 136 cities around the United States, representing buyers from 35 states, as well as from and 5 foreign nations.
Part of the reason that the brokerage where I hang my real estate license has seen such robust buyer activity in 2018 is that Santa Fe and our northern New Mexico region offers options that are not available in other parts of the nation. From reasonable home and land prices, to the culture, weather and attractions of this part of the southwest of our country—these have made our real estate market such a desirable destination. We anticipate that for these and other reasons, 2019 will offer home buyers and sellers some special opportunities in the Santa Fe region.
So, Rey’s Real Estate Recommendation for this first week of December 2018, is for any home buyer, or seller in our region to take the time to identify the best real estate professional to partner with on what is most likely the most expensive purchase, or sale you will probably have in your life. The home buying and selling process is complicated and requires the attention of numerous professionals. It is in your best interest to start the process with someone who has the experience, knowledge and creativity to represent you in the transaction.
For more real estate information, always check out our blog at ATREradio.com/blog and also join us for the “All Things Real Estate” radio show, which airs each Sunday 12-2pm (Mountain Time) and can be heard at the “Listen Now” link at ATREradio.com.