Well it appears that winter is hanging on pretty tight in Kansas. Lawrence schools keep canceling, and I think we're all looking forward to some 60-degree days! Here's a list of some of my comments, predictions, hot-takes, and controversial opinions for 2019:
The Lawrence housing market will continue to see historically low inventory. We're starting the year right where we left of in 2018 with less than 2 months-of-supply overall.
For homes priced under $350,000, we're actually at a month (or less) of supply. Expect prices to continue to increase at non-sustainable rates throughout the year.
Expect homes priced over $400,000 to stay stagnant, or maybe even decrease.
A correction is coming! But probably not this year. Market activity in other areas of the country are starting to cool.
Interest rates will rise (finally)! But wait, maybe they won't. . . We've been predicting rate increases for years now and they haven't yet materialized. Every time they tick up, they come back down. Currently they're still around 4.5% for a 30-year fixed rate.
Political turmoil will cause hesitation in some buyers and sellers. It's gonna get worse before it gets better.
Now is the time to invest in real estate! The stock market sucks? You need to diversify? Real estate is one of the best investment vehicles around.
Things will get quiet in July, and stay quiet through the end of the year.
The Lawrence market will repeat 2018 and fail to produce as many real estate transactions as the prior year, but dollar transaction volume will exceed last year.
Lawrence will begin to change. There are more downtown development proposals than ever before. Expect Lawrence's skyline to change considerably, with ground-breakings starting later this year.