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2019 Real Estate Market Steering Factors Part Two

2019 Real Estate Steering Factors

We’re back to share with you a few more steering factors we believe will shape the real estate market ahead…

If you missed last weeks’ blog with the first three, take a look back here

Feeder Markets

The health of the Lowcountry market (especially second-homes and rental properties) depends greatly on the sense of wealth felt by buyers that originate from our primary feeder markets of which the current Top 10 are:

New York, Charlotte, Atlanta, Raleigh, Chicago, Washington, DC, Nashville, Orlando, Boston, Columbus

These markets have recovered well beyond their previous market-peaks of 2007-2008, yet most are showing signs of a “shift” away from what has been a long-standing seller’s market.

Buy vs. Rent

Increases in long-term rentals have pushed the pendulum of the buy/rent debate into the favor of buying, creating a new wave of first-time homebuyers into our marketplace. Buoyed by attractive interest rates and an overall increase in the desire for home-ownership, we look for this important buyer demographic to be especially active in 2019.

Interest Rates

It’s fascinating to consider that, for the most part, Millennials have never known interest rates to be over 5%, while many others can recall the 30-year rate being as high as the upper-teens. That said, bank-money is still relatively affordable, and even though we expect to see rates continue to fluctuate throughout 2019, this shouldn’t be a major steering factor in the market.

Check back here next Friday for a few more…

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