The question we have been hearing most often here at Haven is, “How is the real estate market?” We can tell you that right now, the Columbus real estate market is off to a great start with good news for both buyers and sellers!
We’ve had low levels of home inventory for several years – meaning homes sell fast! It looks like we are headed for more of the same this year. According to the Columbus Board of Realtors, home sales were 3.7% higher this February compared to last year with 8.9% more homes sold than in January 2019. This is great news for sellers, as there seems to be no shortage of buyers.
Late in 2018 we saw rising interest rates start to affect the market. They peaked a little over 5% but have since come back down. The good news for buyers is that rates have hit a 60-week low and are holding steady in the low 4% range. Mortgage forecasts look to be favorable for the rest of the year which means buyer’s will be able to get more home for their money.
With spring upon us, the housing market has begun to gain momentum and 2019 will still be a solid year of good opportunities for our buyers and sellers. If you have been on the fence about selling or missed out last year with buying, 2019 might be your year. Give us a call so we can help you create a good strategy to meet your home buying or selling needs.