As a Realtor for over 20 years, I have seen a lot of “swings” in market value, but overall, it has always remained “up.”
While over the last three to five years we have seen unrealistic increases in real estate value, I do not anticipate a significant reduction in values on the horizon.
Why? Increases in population stimulate demand. Yet, supply is not increasing proportionally. And labor and material costs are not likely to drop significantly.
In conclusion, if the laws of supply-and-demand are allowed to function without governmental restraint, the value trend may slow a bit temporarily, but it will continue upward.
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Carlos Mandiola is a longtime island Realtor with the McCaughan and Mandiola Real Estate Team, and Coldwell Banker. You may contact him via text or WhatsApp at (305) 724-7989.
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