Nuvision Hosts 2019 Housing Outlook
On Thursday January 24, Nuvision held the 2019 Housing Outlook event at the beautiful Spaghettini restaurant in Seal Beach. This event featured local housing expert Steven Thomas, the founder of Reports on Housing. During his presentation Steven answered hot topics such as:
- Have home values peaked?
- Why does the housing market feel different?
- Is the housing bubble about to pop?
- What is going on with interest rates and the Federal Reserve?
- When will buyers finally have the upper hand?
The start of the housing market this year was much cooler than what is customary, with the Expected Market Time of 152 days. However, things are starting to stabilize and now the Expected Market Time is at 128 days. This is a sign of how different the market is this year in comparison to the last 7 years. Steven claims Orange County's housing market is headed to a balanced market, meaning that there is enough demand from buyers to equal the supply from sellers. This will be the case until about mid-May, which is when demand will remain relatively the same and more homes will become available. Steven’s recommendation for sellers is to not hold out until the Spring Market and to make sure the home is properly priced to find success. As for buyers, he says to not have a lowball offer, instead keep it within the homes Fair Market Value also keeping in mind that a home in great condition that is priced right will not last long on the market.
This event is just one of the many examples of how Nuvision Credit Union is different than your typical bank. At Nuvision, you are not just another number, as a member you are a part of our family and we want to be there for you through all of life’s stages, with personal service and trust at the forefront because we want to help our members build a better life.
