May 2018 Mortgage Market Share Report

May 30, 2018

The Monroe County purchase market, while a bit slower than last year, is still close to a post-recession high as measured by recorded deeds that represent an arms-length transaction. Here are the deed numbers from March 1st to May 22nd for each of the last three years:

??????????????? 2018 ? 621 deeds???????????? 2017 ? 647 deeds???????????? 2016 ? 637 deeds

For the entire year, 2017 and 2016 ended up virtually identical and are the highest two post-recession years. This year is a bit down but at the current pace will still be close to the post-recession high. Inventory is still low. Property values and interest rates are higher. Their effect up until this point seems minimal looking backwards. More likely, due to the lack of inventory, the market continues to lag its potential.

I?m delighted to report that our relocation is complete. Our team magnificently managed the conflicting priorities of getting moved quickly and efficiently with taking the best care of our clients along the way. I couldn?t be more proud of them. We still need to unpack a bit. And we?ll be painting the building in June. It?s nice to have the vast majority of things behind us.

~ John Bethell