The Aldo & Jasmin Show Ep. 1
As you know, real estate can sometimes be confusing. As realtors, we get questions all the time on how the market is, is it a good time to buy/sell etc. So we decided to come up with a monthly talk show that answers all the questions we have been asked. Trust us, we will try to not make it boring! :)
In this episode, we recap the 2018 real estate market and we share what our Windermere Real Estate Economist predicts our local market and economy will be like here in Whatcom County in 2019.
Let's take a quick look at what 2019 has to offer in Whatcom County:
- Home Values expected to rise by 4.6% compared to a crazy 10% in 2018.
- Mortgage rates are expected to rise from 4.5% to 5.5%.
- Wage growth increase of 3.5% and expected employment growth is about 2.5%.
- In 2018, 28% of homes sold in Bellingham where to Millenials..this number is expected to rise this year!
We get it..there's a lot of things happening in the Real Estate market right now but don't be afraid! Yes, home prices will still go up along with interest rates but that doesn't mean it's not a good time to buy or sell. We believe the market is transitioning back into a "normal" market, which will benefit both Buyers and Sellers. How you may ask? Well, 65% of Sellers also have to buy a home! Increasing prices and interest rates won't benefit anyone and we should start to see our market leveling off in the next 18 months.
We hope you have enjoyed our first of many shows. We strive to bring Value to those who are wanting to learn more about what is happening here in Whatcom & Skagit County. Please share this with anyone that would benefit from this episode!