Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Monday, August 16, 2021
As stated above, I do not think home prices will decline in the next year.
That said, I am completely willing to be wrong.
A common question that would be sellers ask me is whether I think home prices will decline in the next year.
"I can't believe how much my house would sell for right now -- maybe I should go ahead and sell now -- because home prices might start coming back down soon, right!?"
It is hard for me to justify selling your home right now simply because of a concern (or fear) that home prices are going to come back down soon.
Yes, it is possible that home prices will decline in the next year, but I think that is unlikely, because...
- I believe housing (for purchase) has been under built for many years in this area. I believe there are more homeowners or would-be homeowners in the market than there are homes to be owned.
- Even if lots and lots of homes are being built or being planned, it takes a long time (relatively speaking) for those homes to be planned and built.
- There are a flurry of showings and often multiple offers on most new listings.
So, are things going to slow down soon? It sure doesn't seem like it!
I think prices will hold (likely rise) for at least another year -- and quite possibly well beyond that as well!
But enough about my opinions -- what do you think? Email me and let me know.
