Real Estate in Rhode Island
Karen Hurst
401 301 6887401 301 6887

Predicting the market in Rhode Island

The news is full of market reports, predictions, graphs and opinions.  Here at Stonehurst Realty, your Rhode Island Real Estate source, we hesitate to make a prediction on the future. What we can say is that yes, the market over the past two years has risen steadily. The rates were low and many sellers came out of the woodwork after waiting for the prices to rise again to sell their homes. Foreclosures are down at the moment as prices have risen and many people were able to refinance after a long period of being under water.

However, right now the inventory is low which usually means a Sellers market. The reason this is difficult to predict is because of a major change in the government which will affect housing policies. Already, rates are expected to rise which will affect buying power. There is no set plan shown regarding Fannie Mae and Freddie Mac to be able to confidently predict.   It’s not always a Buyers or a Sellers market. In times of transition, we see markets that, due to uncertainty can stay somewhat stagnant.  If you are thinking of purchasing a home in Rhode Island in the near future, we suggest you get yourself prequalified now to avoid the next rate hike. Call us if you need any advice at all.  Remember that when inventory is low, as it is right now, you may not get your dream home, but rather a home to build up equity for awhile until the next buyers market rolls around. Usually the market changes every 10 to 12 years, slowly but if you pay attention, you can see the signs.

If you are thinking of listing your home in RI, now is a good time to do it. The next six months will be crucial in seeing which way the market will go.

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About Karen Hurst

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Karen Hurst

Broker/STONEHURST REALTY

Reohurst@aol.com

401-234-0784401-234-0784 main

STONEHURST REALTY

1845 Post Road Ste 7S, Warwick RI 02886

Reviews

5ZachNeal

Karen handled the entire process from the appraisal, showing, selling, and closing for this property. Her professionalism and expertise got us a quick sale at a very good price.
We were so happy with her service that we later listed a parcel of land in... (more)

5KevinBourke7

Karen was referred to me by a friend of mine as I was looking to buy my first home and I could not have asked for a better realtor! I experienced many unforeseen setbacks in the home buying process and she remained patient, offered great advice, and showed me... (more)

5user77306640

I looked by myself for a house for almost one solid year before I finally decided to use a realtor. The sellers of one of the houses I looked at used Karen Hurst as their realtor. In dealing with her in regards to that house I quickly learned to trust Karen... (more)

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