2019 is officially underway, and, while we’ve gotten a glimpse of what the real estate market looks like, the vast majority of the year is still ahead of us. Asheville Cash Buyers predicts that there will be less explosive growth in 2019 than there was in 2018, which should help to balance the market and boost it overall. Inventory should be on the rise, evening things out for buyers and sellers. To see whether our predictions align with those of the industry as a whole, we checked in with several local experts – here’s what they had to say:
Elena Kovrigin of Nesting Dolls Realty, who shared her 2018 predictions with us a year ago, thinks that mortgage rates and home prices will continue to rise in the new year. While this may make homeownership less affordable for some, it should also drive the market to be a bit more balanced between buyers and sellers.
Greg Bauguess of Executive Home Lending predicts that, in 2019, any inventory within an hour of Asheville will perform well, much as it did in 2018.
Peter Hanley of Hendersonville Real Estate Services predicts that, while we won’t likely see a lot of activity in the winter, things will pick up in the next few months. Prices have stabilized, he says, and while inventory is currently down it should come back up. He also shared with us that multiple affordable housing projects are underway in Henderson County, which should serve to make the area more affordable on the whole.
Eddie Ramp of Zen Mountain Realty suggests that we will see a shift towards balance in 2019. Things have been rough for buyers in 2018, he says, so this should make the situation more sustainable. As long as interest rates don’t rise beyond the level of buying power, Ramp predicts that we should see steady growth.
Daniel Castillo with Dixon Pacifica predicts that the market will stay much the same as it was in 2018 – it will still be a great year for sellers, but looks as if it may move towards being a more favorable environment for buyers as well.
Ashley and Katie Ciochetti, local real estate brokers, concur that there will be a slight dip persisting throughout the winter, but that things will pick back up in the spring. Since interest rates have been rising, they predict that pricing will have to come down or level out to accommodate it.
John Hyre, a local IRA lawyer, is somewhat less optimistic about the 2019 market. He feels that the current real estate boom is artificially driven by low rates, and, with rates beginning to rise, the economy may suffer. He suggests that investors look into selling property and cashing out now, to be prepared for what may come in the next few years.
Stefanie Bierschmitt, a local real estate agent and investor, is cautiously optimistic. She suggests that, while 2019 is not necessarily a bad year to be purchasing property, buyers and investors do need to be prepared to hold onto that property in order to turn a profit.
Last but not least, Stephanie Estrada with Exit Realty Vistas left us on a positive note. She predicts that inventory will remain active longer, with homes remaining on the market for at least thirty days, which should be good for buyers!
On the whole, predictions for 2019 agree that the market should begin to even out, providing better opportunities for buyers while still maintaining a solid market for sellers. Here’s to a brand new year, and hoping that it will be a successful one for the real estate industry!