Real Estate Market Update November – December 2016
So the real estate market has been increasing at a steady rate for some time now. We are starting to sell less inventory (homes for sale) and more demand for the available homes which is causing an increase in prices. So, were does this leave us?
What’s Coming Next
Well, the increase in the real estate market has made house flipping more difficult. There is now more competition for homes which has driven the prices up, but also the increase in the real estate market has caused an increase in the labor market as well. Roofers, plumbers, electricians, handy men and other laborers are now busier and more expensive. This is narrowing the profit margins on the flips.
So, if this is you, you should consider: looking into other markets that are not as hot, building speculation homes to sell, or finding another niche that is not as crowded.
Real Estate Market Prediction
So, what’s going to happen? How long is the market going to continue like this? Are all questions that I get asked alot. Unfortunately, I have not answers. All I can say that, is the indicating factors that I use to predict a change in the real estate market are all saying the current trend is going to continue for the near future.