Friday, August 1, 2014

Slow Down? Not Really

Some indicators are suggesting a slight slow down in resale activity and a slower rate of appreciation on homes. The latter has been true but not so much the former, at least in Clark County, Washington. Resales have softened a touch but that is as likely due to the robust new construction activity that has spawned in over the last 12 months. Yes, the builders are back.

Pricing on resale homes was quite brisk, year over year in 2013 and I certainly did not expect back to back double digit increases in the annual appreciation rate. The market is still quite healthy and for those competing in that under $220k range it is often a multiple offer over asking environment.

Check out this article from the Columbian newspaper about new housing, building permits.

The bottom line remains consistent that now is the time to act. prices have moderated a bit and that allows sellers to take advantage of last year's spike while not having to face a huge uphill spike this year for their new home to replace the one they sell.

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