RED REPORT – FIRST QUARTER 2019
The Red Forecast
2019 closings started off a little less (-3%) than 2018’s first quarter, but the pending activity has seen a nice boost with a 38% increase above last quarter and 8% increase above the 1st quarter of 2018, so this may suggest that the 2nd Quarter will pick up any volume losses we saw in the 1st Quarter.
Most are estimating that 2018 sales volumes will continue to level off while prices continue to rise slightly. Inventories are also increasing slightly which will help pricing stabilize with slight increases versus some of the huge increases we have seen a few years ago. I would agree that 2019 sales volumes will be similar to 2018 with sales within a few points of last year and prices a few points higher.
Spring selling season seems to be in full motion with warmer/sunnier weather here to stay soon. I hope everyone is able to enjoy the Easter festivities next week. We are blessed with many great options in Middle Tennessee starting Friday April 19th to Sunday April 21 st. If you are looking for a service, we’d love for you to join us. https://wochurch.org/easter/