2017 Brings Lower Inventory, and Higher Prices in Antelope
It’s not at all unusual to start the year off with a relatively low number of homes available for sale in Antelope. What is a bit unusual, however, is to have a large number of aggressive buyers actively chasing those properties. The result: The Antelope real estate market is off to a strong start in 2017.
With the threat of higher interest rates hanging in the air, home buyers have decided to act quickly, before mortgage rates go higher. Unfortunately, at the same time inventory of homes for sale is very low in Antelope, making home shopping a Johnny on the spot kind of job. Most reasonably priced homes get multiple showings as soon as they hit the market. The expectation is that we will see the inventory of homes for sale begin rising shortly and reaching a maximum of available home for sale in the late summer.
Antelope Sales Activity for March
How High Might Antelope Home Prices go in 2017? – Watch Jobs and Mortgage Rates for Clues
Home buyers have received a surprise in early 2017, with mortgage rates heading up, and not up as many expected. With the Federal Reserve raising rates slightly in December, for the first time in nearly a decade, it was expected that mortgage rates would follow.
If we see any positive signs in the local job market, the first half of 2017 could be very favorable for home values, and if mortgage rates stay in the 4% range, there should be plenty of buyers looking get into homes.
Antelope Foreclosure Activity – Down, but not Out
Antelope still has plenty of homeowners with mortgage balances in excess of their home value, but the number is going down steadily. So, while foreclosure activity is going down, we still see a moderate number of foreclosure notices each month in Antelope.
Antelope – Home Available For Sale v. Homes in Pending Sale
Antelope – Home Sales by Month
Antelope – Foreclosure Filings
Antelope – Percentage of Homeowners with Negative Equity