Positive Outlook for New Home Sales in 2018!

Last year may have been a bit of a disappointing or anxious year for a lot of people, but in one industry it actually showed a lot of optimism: real estate!

The sale of newly-built single-family homes rose a little over 8% in 2017 and sales of existing homes rose as well. You may have heard that home sales fell slightly in December of 2017, which is true; but on the other hand, sales prices rose over December 2016, and there were more first-time buyers than there were in November of 2017. Together with increasing job creation and rising home equity, this indicates that positive growth will continue through 2018.

Experts are predicting a lack of inventory, so make sure you’re offering outstanding customer service to your clients, or they’ll look elsewhere. Word of mouth referrals are the most important advertising you can get! The growth of prices is expected to slow, but not stop; this could continue to push potential buyers towards renting in more expensive markets. On the other hand, the Millennial generation is growing older, and more of them will be in a position to buy instead of rent over the next year, so know your trends, make connections, and grow your customer base! Again, customer service is key.

Altogether, 2018 is looking like a positive year for real estate! Those of us at The Premier Group in metro Atlanta is looking forward to seeing what challenges and successes the rest of the year brings in the local real estate market. We hope you are too.