In a normal Incline Village, NV real estate world, predicting the future of home prices is pretty standard. There is a streamlined formula where you calculate the supply of homes for sale in Incline Village, NV to the demand. Currently, the supply is incredibly low and doesn’t measure up to the demand, which makes it hard to predict. Add in that mortgage applications have risen to the highest level in over a decade and this would suggest a strong home price appreciation for the next foreseeable future. What is really interesting is that experts have mixed thoughts on home values for later this year. Some think we will have a decline of around 1% or less while others think that we will see an increase up to 4%. There are some experts who even think that we can’t sustain the current rush of homebuyers due to the fact that is it a result of pent up demand and things being “on pause” for the last couple months.
If you have been thinking of buying or selling homes for sale in Incline Village, NV in 2020, it is important to know that it is really a wait and see approach, but no one expects things to crash like they did in 2008. The atmosphere now is just too different compared to 12 years ago. Here is what you should take into consideration though as both a buyer and a seller: If this is important to you, get the process started now. This is a great time to list as the inventory is so low. There is very little competition and all the serious buyers are ready to make a move. If you are buying, be patient. Don’t wait to see if prices for homes for sale in Incline Village, NV go down. They likely will not. Regardless of which party you are, working with someone who is experienced and knowledgeable in Incline Village, NV real estate is key. We have the tools and resources to help you achieve your goals. For more information on what is happening in our market, feel free to reach out. We’d be happy to help.