Our very own Irondequoit Rotarian, Mark Hiscock, of Howard Hanna updated us on the local real estate market. Howard Hanna has been in business since 1948. It is the 3rd largest real estate company in the country (1st in NY) and bought out Nothnagle in 2018. It's been 10 years since the housing crash which was caused by poor lending practices. Now, lenders have tightened requirements. In Monroe County and Irondequoit it has been a sellers market over the last few years. Interest rates are rising but still relatively low. There has been low inventory so sellers are benefiting. Houses have been selling fast at prices above asking price. In Monroe County, comparing 2018 to 2008: sales increased 60% and prices are up 13%. 2019 is expected to see some of the same trends continue but the sellers market conditions are starting to moderate. Click here to download the material that Mark prepared for our review. |