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New Year, New Market! What are the trends for 2019?

All real estate is local. For updates on the DE beaches market, call me today.

Inventory challenges defined the real estate market in 2018, and that trend will continue, albeit not as severe, in the coming year. Here are a few more of the real estate trends that my team at Long & Foster and I expect to occur next year.

  1. Inventory will increase a little, but still not enough to meet demand. Inventory will expand this year, but primarily in luxury housing. While demand is strong for entry-level homes, there won’t be much more housing available in that segment.
  2. Mortgage rates are likely to rise. The Mortgage Bankers Association predicts that mortgage rates will reach 5.1 percent by the end of 2019. While that’s higher than the rock-bottom rates of the past few years, it remains historically low.
  3. Home values will rise, but at a slower pace. The National Association of Realtors predicts that prices will rise about 3 percent in 2019 over 2018, a solid increase but not at the rampant pace of previous years.
  4. Investors will benefit from continued healthy returns. Real estate brings steady returns, and as investors look to diversify their portfolios, real estate will rise to the spotlight with attractive mortgage rates and high housing demand.

What these trends mean for you:

If you’re planning on buying or selling a home in 2019, it’s important to put these trends into perspective and realize that the unique characteristics of your local market may not match these overriding predictions.

Working with a real estate professional like me with local market knowledge and industry expertise will help you reach your real estate goals in 2019. Contact me today to get started on your journey home.

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Allison Stine

Experience Matters Allison Stine began her Realtor career in 2004, and three short years later she founded the team of top-notch agents to assist homebuyers find their perfect home. She has earned several awards in the past decade that marks her as one of Northrop Realty’s best such as Delaware’s top producing team in 2021 with over $100M in real estate sales in that year alone. Allison is a certified ePRO, and a Certified Residential Specialist. Allison’s accolades go beyond Northrop Realty; she is a twelve-time recipient of The Delaware Today 5 Star Realtor award and was named 2016 Realtor of the Year by the Sussex County Association of Realtors and the recipient of the association’s President’s Award in 2020. She also is a member of the National Association of Realtors, the Delaware Association of Realtors and the Bethany-Fenwick Chamber of Commerce. Outside of work, she founded the Cripple Creek Car show, which raises funds for Operation SEAs the Day, an all-expenses paid, week-long beach vacation for injured soldiers, veterans and their families. One of Allison’s biggest passions is classic cars and driving fast. She owns four classic cars including a 1969 Z/28 Camaro that she fully restored to factory original in a five-year frame off restoration; and a 1968 unrestored all original Road Runner. You've probably seen her driving in parades in her 2015 Chevrolet Camaro SS Indianapolis 500 Festival Car or racing down the drag strip in her skat pack Challenger. While Allison is charged with marketing and business development, she enjoys working where her roots started — helping clients buy and sell homes. “Working with the team has allowed me to meet fascinating and fun people,” she said. “I have forged relationships that will last a lifetime.”

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