Jan Bewley - Realtor

I’m sincerely honored by clients like Candy. It brings me joy to hear that Candy is happy and pleased!

See more: https://www.realsatisfied.com/Jan-Bewley

Buffco’s 2019 Market Predictions
State of the Economy – State of the Industry

State of the Economy:
2018 US Economic Growth was 3.81%
2019 Prediction for US Economic Growth - 2.5%
USA was the 2018 world’s most competitive economy for the first time in 10 years.
Canada had a bumpy year with 2.1% economic growth in 2018.
Global growth rate in 2018 was 2.8% (not as good as it should be which will cause stock market to wane. Foreign investing will diminish due to a feeling of a lack of wealth.
Unemployment rate for US was 3.7% which is technically full employment for those who want a job. US currently has 7 million open jobs unfulfilled.
US 2018 wage growth was 3.1%.
Inflation was 2.3% and is predicted for 2.3% in 2019.
Venture capitalism into real estate in 2010 was 20 million dollars. In 2017 it was 12 billion dollars.

State of the Industry:
2018 had approximately 5.29 million in real estate sales.
2019 prediction is 5.3 million which generates a flat/normal market.
Market time for listings in 2018 was 19 days. Market time prediction for 2019 is 60-90 days.
Interest rates will continue to increase in 2019.
In 2018, 90% of all transactions utilized a real estate agent. As process becomes more complicated, the trend will continue in 2019.
New considerations for flat/normal market in 2019:
1) Buyers and Sellers will need more experienced and skilled real estate agents.
2) Inventories of properties for sale will increase, which will increase market time frames.
3) Cash flow for participants will suffer with elongated market times.

2019 looks to be a normal market (as opposed to a seller’s market) and negotiation skills will be an important aspect for the real estate agent.