real estate trends for 2019

Real Estate Trends for 2019

2019 Real Estate Trends As 2018 comes to a close and a new year begins, the real estate industry experiences new trends. Some of the changes you’ll experience in 2019 are subtler than others such as Zillow making their move into Canada. Read on to learn the seven trends that will shape how each Realtor does business.  There were many expectations for home buying in 2018, lets look at the 2019 predictions.    The new trend in consumer shopping and home investment moves the most popular month to purchase to the fall, according to a study by the National Association of REALTORS. You’ll see residential home buyers make the first week of fall – September’s final week – into the week to close on a property.   It not only becomes the time to buy a home, but the most popular time to begin a home search. That means the late summer months will become busier for those looking to sell a home. Local markets will still vary slightly, but nationally this applies. Early fall presents the best conditions for buyers. It has developed as a time of higher inventory, less competition and stable prices. Prices remain stable through November, according the three year data set used for the trend forecast. Home prices will increase early in the year due to low supply but high demand. This makes things tougher on first-time home buyers. The beginning of the year will present a tougher situation since the buyers will have snapped up all the affordable housing during the early fall. While it’s a seller’s market, seller’s haven’t wanted to sell. This trend continues into 2019, causing further shortages. Instead of selling, the owners offer the properties for rent and they’re making steady income as landlords. Millennials comprise the new leaders in real estate investment. The strong economy and their increasing incomes has encouraged their participation. Look for mortgage rates to rise in 2019, while homeowners will gain equity and have an easier time borrowing money. This makes acquiring funds for renovations or remodeling easier. Millennials aren’t the only ones experiencing the positives of a strong economy. There’s been steady employment growth throughout and positive economic indicators. These make it easier to get home loans. In 2019, construction starts will rise to meet demand. In 2018, single family housing starts increased by eight percent. This wasn’t enough to meet supply demand though. The coming year brings an increase, but it’s forecasted to be too small to fill demand.   All trends beginning in 2018 and continuing into the following year combine to create a true seller’s market. We are still on the lookout for some technological real estate disruption for 2019. While demand exceeds supply, buyers have a much easier time acquiring loans than in the recent past. The youngest home buyers, millennials, experience an easier time due to positive economic indicators and increasing salaries. For those who can locate one in their price range, 2019 may very well become the year for…

Buying-A-House-2018

Home Buying in 2018

Getting the Right Place at the Right Time   It’s clear that buying a house is scary for a lot of people. It’s a big step in anyone’s life. For a lot of young people, it will feel like a passage into real adulthood, and they might not feel as if they’re ready for that anyway. For people who have been struggling for a while with their finances, buying a home will feel like ‘making it’ at last, which is exciting. However, it’s also very frightening. People might be worried about the risks associated with investing in a new property, and a home is always an investment in one way or another. This is one of the reasons why it makes so much sense to pay attention to the broader market and the associated trends. The real estate market does fluctuate quite a bit. It’s useful for people to try to get a sense of when they should purchase a house, especially if they have been trying to save up for a house for a long time. This will certainly be the case for many first time homebuyers in 2018, and even buying a second home in 2018 really does make a lot of sense. There are many objective reasons why buying a home in 2018 is a good idea, and people should look at all of their available options as soon as possible. For one thing, when people are deciding when it’s a good time to buy a home, they should always look at the average mortgage interest rates. In the case of 2018, these rates are unusually low. This means that people will already be able to start making much more steady mortgage payments than they would have ever imagined, and those mortgage payments will remain comparatively stable over time. The increasing interest rates will improve the affordability of homes, which is great news for home buyers. People also need to take into account the availability of good homes. There is no doubt about the fact that people will have a lot of options if they are looking for homes for sale today. All people need to know when they will find themselves in a buyer’s market, and that is certainly the case now. The demand for a new home is relatively low at present for a number of reasons. The fact that a lot of people are still worried about the state of the housing market has certainly contributed to that situation. Not as many people are buying homes in america. However, this gives the people who are buying a very distinct advantage. Anyone who is trying to sell a home in this market will have a tougher time, which is another reason why this is a good time for people to try to get a home personally. The supply of available houses will eventually go down again, The balance will shift again and the buyers will no longer be favored. As more and more buyers realize…