Tuesday, October 4, 2016

Higher Prices, Slower Sales in Top Tier Markets

We have all witnessed the astronomical growth and appreciation of real estate in many cherished cites and locations around the globe.  Closer to home, the values spikes have become clearly evident in locations like New York City, San Francisco,  Much of Southern California and Miami to name a few.

While the market has rebounded in many parts of the U.S., the appreciation rates in these cities are simply off the charts for most Americans to absorb.  After years of record growth, it does appear that many of these specific cites are beginning to see a slow down in sales, even though higher prices are being commanded.

Eventually, It does appear that values have reached a peak and a mild correction or leveling off is in store.  

In summary, the market always finds it's value.  Many of us have enjoyed greater appreciation with a combination of historic low interest rates. And many markets are enjoying robust sales where values are still considered reasonable.

Through the process of supply and demand, affordability and desirability of a geographic location, real estate, like many other investments have a way of finding true market value based on their respective benchmark indicators.

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