hanera
December 29, 2017, 8:15am
8
SamShuehRealtor:
The average home prices from three counties (SFH 3 br+) bounced +18.7% (2012-2013), +13.7% (2013-2014), +8.8% (2015-2016), and during second half of 2016 value increase was receding resulted in a +2.8% price increase (2015-2016). Stated differently, the growth momentum was losing steam just before the presidential election. In 2017 after the election there were more anxious buyers willing to pay top price for anything that looks like housing. During the first 11 months of 2017 the market is so hot that +24.4% home prices increased.
Any explanation as to why the price shot up 24.4% instead of maxing out asymptotically? Or are you implying that is due to impending tax reform of Trump? Without which, the increase in 2017 should be less than 2.8%. Did I read you correctly?
Consistent with my experience…
My guess is there are lesser out-of-state guys or too many rentals trying to capitalized on this fact. The out-of-state guys are usually given 1-2 weeks to tour and make a decision, so they tend to pay a higher rental than those who are already here. After 1 year, they would try to negotiate lower or look for cheaper rentals. This year when I was trying to rent out, hardly any out-of-state, they are currently renting and from all over the places as depicted in the map I show (wuqijun - not pluck from the air, you implied my map covered too wide).
wuqijun,
Same as many in this forum? Thinking aloud: What does it mean?