Wrapping Up 2019
2019 was an eventful year for us at TPS and the real estate market! Overall, the United States has been having one of the longest periods of economic growth in the country. We compiled a recap of 2019, as well as our predictions for what 2020 will bring. Read on for more!
A Recap Of 2019
As we stated before, the United States has been greatly economically growing. Unemployment is at a new low with improves job prospects, average wages have been rising, and people are spending more, all of which fuel the economy.
The real estate market has been majorly influenced by this. The average home price was around $316,000, the highest it’s ever been due to the growing demand of homes. Home prices did grow slower compared to 2018, but overall, homes are less affordable in this decade compared to the last decade. Mortgage interest rates have declined over the year as well. The majority of home buyers are still millennials, with 37% of homebuyers being the demographic.
Predictions for 2020
In terms of real estate, it’s predicted that home prices will rise, but slower than in 2019. For buyers, your budget may have to stretch. Figure out how much you can afford to get the amount of home that you want. Stay within that budget and don’t overextend yourself even though your choices might be slim. For sellers, this can mean a nice profit is in store for you, but stay aware of your competition and be willing to wait for the right offer.
Transforming Property Solutions’ Year
2019 was a big year for us at TPS! Some of our accomplishments include:
- Launching our new website
- Participating in the SCPS internship program
- Hiring two interns
- Hosting the Sanford Chamber of Commerce breakfast during the month of October
We at TPS wish you happy holidays and a happy new year! Our website includes updates on our current renovations, reviews from past buyers, and our past blog articles as well! Stay updated with our email mailing list, which you can sign up for on our website. Transforming Property Solutions is located at 223 W 3rd Street, Sanford, FL 32771. For more information, investors and realtors are encouraged to call 407-375-2317 or visit us online at ww.transformingpropertysolutions.com.