“The first quarter of 2018 has been an intriguing one. Initially we were seeing sluggish sales numbers in January and early February, but then the quarter ended on a high note. Prices remain at all time highs, and for most zip codes, we are seeing modest increases. The really interesting figure to observe is the difference from the first quarter of 2017 to the first quarter of 2018 in inventory levels. Most zip codes are seeing significant drops in the number of homes for sale. In some areas, the drop is quite dramatic. This will be an interesting data point to observe as we head into the rest of 2018. If inventory levels remain this low, we should see upwards movement in values. For now, interest rates are holding steady in the low to mid 4% range and this is all leading to a continued solid market in 2018.”
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