Will we continue to see a strong Real Estate Market in 2018?
The signs are good that our local Real Estate market in Oroville will continue to be vigorous. The “signs” being the Multiple Listing Service that I look at daily and the various reports and media blurbs that point to a pretty strong economy as well as the growth in infrastructure that I see happening around town. It is unclear what impact the new tax laws will have on our local market, but from what I have read and heard, I don’t see a huge change in the buyer and seller motivations. It will be interesting to see if the “disasters” of 2017 (Spillway and Dam problem and horrendous wild fires) will have any sustaining impact on our housing market. We saw a MAJOR jump in rental demand as the workers were hired on 2 year contracts to do Dam repairs as well as the housing demand from families displaced in the fires. The interesting thing to note from the spillway incident was the lack of demand from homeowners living in the potential dam failure areas to relocate to properties that were above the dam. There really was not the large influx of listings in the “lowlands” that I expected. The Oroville Real Estate market continues to surprise and fascinate me just as it has for over 15 years now. I am honored to be a part of this towns growth and a witness to the spirit and determination of its residents. Bring it on 2018, we are ready!