Page 5 - LISTING PRESENTATION

Two thirds of NABE economists expect a recession to occur before the end of 2020 and 18% of them see it coming sooner.
The path to owning a home for Cape Cod residents may be turbulent this coming year. This is due to the recent shortage of homes for sale, higher mortgage rates and higher average selling prices for homes in the area.
The focus for 2019 for many prospective homeowners is shifting to the subject of affordability. By historical standards rates are still fairly low in the mid 4% range. In 2018, we saw rates start the year near 4% then increase all the way up to 5% then back off a bit to where we are now.
The overall projection is for rates to rise again in 2019 and indeed they have. These increases translate to tens of thousands of dollars in interest over the life of a 30-year loan. These increases mean many would-be buyers are now squeezed out of the market due to inability to qualify any longer. This is the start to the next shift.
Cape Cod property owners are very fortunate, however, to own assets that increase in value during good times and fare better than most other asset classes during more challenging times. With the rental market and the continual demand for summer residences, the majority of home owners on Cape Cod are blessed to have many options, including the ability to buy and hold real estate.