RED REPORT - JUNE 2018
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The Red Forecast
While the National home sales seem to be cooling just a little bit, the local real-estate market continues to be hot as ever. National home sales are 3% lower for the year to date totals for 2018 vs 2017 compared to Locally, we are 5% higher for the year to date totals for 2018 vs 2017. I would contribute the difference in inventories. Locally, we have seen inventories increase so the sales have followed. Nationally, the inventories continue to be lower than previous years and the sales have followed with a slight decrease as well.
Some economists have the opinion that higher prices and mortgage rates increasing have kept those on the lower end from being able to afford a home. Locally, we have such a low supply and high backed up demand for the lower end that is will take more price increases to slow down the lower end/first time buyer home sales. Most of the lower end listings continue to sell in days if not hours with multiple offers. We all guessed the sales would follow the inventories so that opinion continues to have validity by looking at the local and national trends.
I am most excited about our new announcement of “Boro Blessings”. Red Realty is partnering up with Murfreesboro.com to give away cash & prizes to an organization or person who is giving to others in our community. It’s a cool twist to our Red Charity Challenge we did last year, except its every month and it will be a way to pay back to someone who is already giving of their time/resources in our community. The first winner will be a Teacher since we are a month away from the back to school excitement. So please nominate a teacher you think should win at this link: https://murfreesboro.com/boro-blessings/
Be on the look-out as we surprise the winner at their school in August!!
1574 Medical Center Parkway
Murfreesboro, TN 37129
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