RED REPORT – JANUARY 2017
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The Red Forecast
After a record setting 2016, 2017 is off to a good start with a 5% increase over January of last year. You can’t really determine much about a year based on one month, so we’ll have to see how the first 3-4 months match up to previous years. It is exciting to start off the year ahead to give us positive momentum. Most analyst expect 2017 to look a lot like 2016; which is not a bad thing since 2016 was the best year we have ever witnessed in terms of closing volume and prices. Most of us would be happy with anything close to 2016, but a few points higher would also be well received. Low inventories will continue to be as issue and will probably be the determining factor on what happens with sales volumes and prices.
I hope everyone had a great start to their new year. We’ll keep you posted on the market as the year progresses.
Thank you to everyone’s positive response to the Red Report over the years. I have been gathering this same data for over ten years (time flies). The list of those who read/use our information is unbelievable and grows each year. You can review the Red Report on our website: www.redrealty.com/blog , our Facebook page: https://www.facebook.com/RedRealty/ or just email me if you want to be on the email list.
Thank you for all the positive feedback and we look forward to serving you with the Red Report this year.
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