The topic of conversation when people see me these days continues to be: what is going to become of this market? You probably know that (along with most other experts) I believe we are NOT caught in a bubble that is going to suddenly break. It's an appreciation of prices with sound fundamentals, and that isn't going anywhere. 

The National Association of Realtors broke it down in terms of US Regions.  "These increases come as median single-family existing-home prices rose at a faster rate nationally – 15.7% – from one year ago, up to $368,200. In comparison, the year-over-year pace in the prior quarter was 14.3%. Notably, the South region made up 45% of single-family existing-home sales in the first quarter and notched a double-digit price appreciation of 20.1%. Meanwhile, the Northeast saw a climb of 6.7%, the Midwest 8.5%, and the West 5.9%."

If I were to take the temperature of the Metro West real estate market, I would say there seems to be a very slight lull. I attribute this minor pause primarily to buyer fatigue. It seems harder for me to convince buyers to head out and see good houses because they are in a pattern of assuming they won't win in a bidding war. Remember though, that isn't always the case. Someone has to win, and I know how to structure an offer to do so - just ask my readers who are sitting in their new homes reading this! 

As well, on some properties there is still room to negotiate. I had two old fashioned negotiations last week with houses that had been on for an average of 60 days. These buyers were able to have inspections, and in one case put in the safeguard of a mortgage contingency. How very 2019 of us! The market won't absorb just anything- if it's priced too high, people know and shy away.

Seasonally we typically slow down as we head towards Mother's Day and Memorial Day Weekend. Spring activities, graduations, proms, sports, etc. all ramp up with the warm weather and are a distraction from the house hunt.

The topic of the interest rates is a hot one too. In our market, sophisticated buyers aren't going to halt a search because of a 5% mortgage rate. Some people may hold off on selling because they don't want to trade up on a higher rate. Others may accelerate listing their home in anticipation of rates going up even further, and buyers may join them in that race.

Finally, I was speaking with a friend who is an executive at a major shoe company - she says their data indicates people aren't buying goods right now, rather it's all about experiences. If you try to book any trip this summer it's nearly impossible. Airline flights are filled and expensive, as are hotels. Retail numbers are trending up slightly, but at a much slower pace than last year. If people are spending more on travel and experiences they may pull back a little on homebuying. However, in my opinion not enough to make a dent in the demand and scarce inventory. Most of your "experiences" in life are in your home, and that's not going to change. 


Are you curious about what your house is worth in this market? I'm always available and more than happy to provide an analysis for you! Email me at or call at 617-306-3642 to schedule a meeting.

Cheers to a great week!