The Motria Group's Market Blog: 2017 went through some very big ups and then very big downs
Monday Jan 08th, 2018Share
Happy New Year! 2017 went through some very big ups and then very big downs. In the spring it felt like the good times couldn’t end and buyers panicked that they wouldn't be able to break into the market if they didn’t buy. Low supply pushed prices up to unbelievable levels. Then late spring, it ended. Summer was a bit rough and slow - prices were down and a number of houses did not close. Fall saw some stabilization and the market pepped up a bit. We saw some good sales.
2018 is now here and we are waiting to see what will happen. The government imposed mortgage stress test is now in place and we are waiting to see how the new corporate tax laws will impact net worth and hence perhaps the higher end market. Demand remains high and supply low. We don’t know how it will all go. Time will tell.