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Just when you think it's safe to go back in the water...

Friday, March 9, 2018   /   by Vanessa Saunders

Just when you think it's safe to go back in the water...

03.09.2018Shark.jpg


...somebody yells, "Shark!"


This time, it's none other than our old friend Lawrence Yun, the oft-quoted chief economist for the National Association of Realtors, who pointed out yesterday in the Wall Street Journal that he expects "home sales to be flat this year."


And me with high hopes of a spring market full of houses for sale and buyers full of dreams.


Larry has come to this conclusion - that about the same number of homes will sell this year as did in 2017 - from low inventory (still!) and the erosion of of affordability as prices and mortgage rates rise. Plus, the new Tax Cuts and Job Act is gonna nail high end buyers with a $10,000 state and property tax deduction cap. And low end buyers are going to see mortgage payment rise as their interest rates go up. 


But you know what? Given all those factors, I think I'd be pretty happy with 2017's sales figures. Global Property Systems had a pretty strong increase in listings AND sales last year. Our focus on marketing to global buyers has proven to be successful - for proof of that, just look at all the big real estate brokers who have inserted the word "International" into their website landing pages.


Don't get me wrong. We'd love nothing more than sustained growth in the housing industry. But if we have to repeat a year's sales results, we'll take 2017. 

  hudson valley real estate, housing sales inventory, mortgage rates, making an offer on a house

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258

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The information appearing herein has not been verified by the Hudson Gateway Multiple Listing Service, Inc. or the Hudson Gateway Association of Realtors, Inc. or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

©2019 Hudson Gateway Multiple Listing Service, Inc. All rights reserved.

The data relating to real estate for sale or lease on this web site comes in part from MHMLS. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the MHMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. The information appearing herein has not been verified by the Mid-Hudson Multiple Listing Service, Inc. or by any individual(s) who may be affiliated with said entity, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose. ©2019 Mid-Hudson Multiple Listing Service, Inc. All rights reserved.
The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.