SIDNEY — 2019 was a very successful but challenging year for the real estate industry due to limited inventory/homes for sale. Housing inventory recently hit a two year low, falling 12 percent year over year in December.
“It was not uncommon for properties to be on the market for only one day with multiple and or backup offers” said Dave Fleming, Realtor/owner. The housing market has exploded and for the 12th, consecutive month, the U.S. foreclosure rate was the lowest in 20 years.
“Our housing market currently suffers from the chicken or the egg syndrome. Clients tell us they would sell their home if there was something to buy, but there is nothing to buy because clients won’t sell their homes” said Fleming. Now is the time to sell and buy! Consumer prices rose slightly in December, but underlying inflation pressures retreated and weakened inflation supports the Fed’s desire to keep policy or interest rates unchanged.
His report continues:
Statistics show that new home sales are stronger in growing cities. A recent study by CoreLogic shows states with the largest population growth have the most sales. Homebuyers have been active in starting what may produce another record year for 2020.
The Veterans Administration has eliminated loan limits on VA loans, starting January 1, however, there is also an increase on many associated fees.
Bryce Realty LLC would not have the success it has today if it were not for the great people who work for us and the great clients we serve. We have never forgotten, we are in the people business first, the house business second and every decision made must be in the best interest of our clients.
As a company, Bryce Realty LLC, has strengthened their inhouse training with Dave Fleming obtaining the designation as a Certified Real Estate Mentor (CREM), providing additional training opportunities to Bryce Realtors. As a result, they are able to provide smoother transactions and greater benefits for both real estate clients and the industry as a whole. Bryce Realty is a growing company that has expanded their market into the Dayton, Lima, and Columbus areas. They are seeking additional agents as their sales market continues to grow.