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Article: Buyers beginning to say 'enough' to high prices.(Spotlight on Residential Real Estate)(residential real estate)
- Article from:
- Real Estate Weekly
- Article date:
- February 24, 1999
- Author:
CopyrightCOPYRIGHT 1999 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The residential real estate market has had a tremendous run, with years of consistent demand fueling continuing, often double digit increases in residential prices. Can we anticipate more of the same for 1999?
Market conditions look very much like 1998, with favorable interest rates, strong competition among lenders, demand outstripping supply, a healthy economy and consumer confidence. It would be easy to forecast that 1999 will be another banner year for price increases and record sales, but there are other forces at play in the residential market.
The balance between supply and demand will remain stable. New residential construction, though evident, ...