RED REPORT - FEBRUARY 2018
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The Red Forecast
February’s boost helped make up for the slow January start for the year. We are definitely in the Spring Selling Season with increased pendings and closings.
Inventories continue to be low, but we are seeing more development and construction on the way for 2018, which should help take some pressure off the buyer demand. The cost to deliver new homes continue to rise so this will only cause existing home prices to rise as well. Affordability continues to be a concern among first time homebuyers and lower price point buyers. Our market seems to be supplying those buyers with townhomes and condos that are more affordable than detached single family homes. Apartments also continue to be built in order to house those who would have been in the lower priced homes our market no longer has.
It looks like 2018 is going to be a lot like 2017 which looked a lot like 2016. I’ll take boring steady growth any day over the rollercoasters we’ve had in the past, so my vote would be to have another boring steady year like last year.
More Sun and warmer days are on the way!!!
1574 Medical Center Parkway
Murfreesboro, TN 37129
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