Our economy is growing and our market is strong. If you need to sell your home, 2018 is the right time to do it.
Should you sell your home in 2018?
The first thing I should say is I don’t know. It depends on what you’re trying to accomplish.
If we look at the numbers and what they predict for 2018, the economy is booming. Confidence levels are off the charts and better than they’ve been in a long time. As far as values go, I believe we will see more home sales and slower appreciation.
We didn’t have as many sales specifically in the Portland/Southwest Washington area in 2017 as we did in 2016, and there are a couple of reasons why. First, the weather was terrible, so it slowed down our market for the first two months. Second, we didn’t have a big enough supply of homes on the market.
We still have a massive number of people moving into the Portland/Southwest Washington area and we’re still the No. 2 relocation market in the country. If you need to sell, I think 2018 will be a boom year for you.
I think we’ll see a slowdown in the suburbs as far as appreciation goes, but we’ve seen double-digit appreciation since 2012—the biggest real estate growth rate in history. There is nothing out there that says we’ll see a market downturn, and there is no indicator that there will be a bubble. If we have some natural catastrophe, there might be a little hiccup, but even if you look at areas like Houston or Florida, those markets have bounced back immediately. Why? Because the economy is growing. Jobs are growing.
If you need to sell, there is no reason to hesitate. None of the tax changes did anything to the market, so it’s still very strong overall.
If you have any other questions about our 2018 market or whether you should sell or not, don’t hesitate to reach out to me. I’d be happy to help you.