Dan Starr Realtor - Real Estate Property Values In Today's Market

 

Real estate property value in today's market does not hold promise though it would be inappropriate to call it bleak. Those expecting a rise in prices in 2020 are likely to get upset. 

Dan Starr Realtor boost the confidence of the home buyers and sales are likely to gather pace this year.

In 2020, the real estate market is expected to reflect price levels on a similar scale like the one witnessed in 2019. The year will be a good time to purchase a property. The market will offer a plenty of options in ready-to-move inventory since more project completions are likely to take place this year.

An amazing recovery in the residential market in 2020 is a far-fetched idea. But it is certain that whatever recovery and growth Dan Starr Realtor achieve now will become sustainable and backed by robust market fundamentals. The days of speculative peaks and troughs are a thing of the past.

The residential market is undergoing a 'price crack' for the first time in many years. Property prices have fallen in the second half of 2019 by a weighted average of 3 percent across cities versus the year-ago period.

The depressing property rates show the ongoing stress in the residential real estate sector. The impact of slowdown due to demonetisation, the enforcement of the Real Estate (Regulation and Development) Act (RERA), GST, and the trust deficit in developers have hit the market.

On the bright side, unsold inventory fell 19 percent to 5, 28, 494 housing units. 65 percent buyers used to be short-term ones or speculators. They have exited the market. This implies the market is moving towards end users.

It is unfair to expect quick market corrections. The recovery in the residential market will be gradual. The drop in prices is a healthy step toward market recovery. Along with other measures, a reduction in unit sizes across cities will improve home-buyer affordability. The high level of unsold stock is likely to lead to stable housing prices.

Dan StarrRealtor says the residential market has been on a wait and watches mode on account of structural changes. Sales velocity to start gathering momentum in the second half of 2020 on account of stable prices making entry attractive.