The Main Line Real Estate Professionals at Sage Announce Predictions for the 2018 Housing Market
January 28, 2018- Philadelphia, PA – With the New Year will come new challenges to Main Line Realty, as well as real estate across the country. Based on its long years of experience buying and selling across the Philadelphia Main Line area, Sage Realty offers several predictions for what the 2018 Main Line real estate market will look like.
- Millennials will push for walkability.
Millennials want the high-quality services of the suburbs, with the walkable convenience of urban lifestyles. As Millennials are now joining the ranks of homeowners, the successful young buyers are going to be driving a push for “urban suburbs” that seek to combine the best of both worlds.
- The loss of SALT deductions could impact the Philadelphia Main Line real estate market.
The recent tax bill has reduced State and Local Tax (SALT) deductions for homeowners, which could make purchasing a home harder for some buyers in states like Pennsylvania with relatively high property taxes. However, the deduction limit of S10,000 offers some benefit to prospective homeowners and we predict that most who are seeking homes will decide to move forward with their purchases.
- Gains will be slow but steady.
The biggest issue with today’s market is lack of inventory. Fewer homes means fewer purchases, regardless of tax incentives or demand. Inman, a real estate news provider, predicts modest increases in the available inventory, though we see the coming months continuing to be a strong sellers market. Buyers should continue to be prepared to move quickly on home offerings that meet their needs.
About Sage Main Line Realty
Sage Realty was founded by long-time professional Realtor® Linda Walters, who had a vision for a different kind of Main Line real estate agency. Sage Realty always focuses exclusively on the needs of its clients, giving the company an edge in offering Main Line realty services that truly put the customer first.
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Tags: Main Line Real Estate