CHARLOTTESVILLE, Va. (WVIR) - Real estate experts are weighing in on what they say are positive trends for the housing market so far this year. Michael Guthrie, the CEO and broker at the Roy Wheeler Realty, says there was a 5% increase at the end of 2019.
Guthrie says right now there is a lack of houses on the market because homeowners are choosing to make renovations instead of move. “Those houses don’t come on the market so that somebody who is a first-time buyer or second-time buyer is interested in that house they buy it so then those folks can buy the next house and those folks can buy the next house and so it ends up having a ripple effect throughout the real estate market.”
Guthrie says sales will likely pick back up come springtime because there will be more homes on the market and interest rates will remain low.