According to the National Housing Forecast form realtor.com, the lack of inventory due to quick rising home prices will begin to ease starting early next year. This easing of shortage will result in manageable home price increases and will accelerate home sales. We should also expect an increase of millennial mortgages, a stronger southern sales market, and the tax reform to play a major role as the wild card in our real estate market.
Javier Vivas, who is the director of economic research for realtor.com says "inventory increases will be felt in higher priced segments after the spring home buying season". This is expected to provide relief for buyers and drive up sales in 2019 and beyond.
The five housing traits expected for 2018 are as i mentioned earlier. First is that inventory is expected to increase. Next, price increases are expected to slow about 3.2% year-over-year maybe more in higher priced markets. Also, millennials should gain market share in all home price segments. Lastly, the tax reform will work as the wild card. The decision on the provisions of the reform will either lead to positive or negative effect on sales.
Author:Mike Parry Phone: 407-668-1278 Dated: November 30th 2017 Views: 51 About Mike: Mike Parry has recently signed on with Exit Realty Champions in Davenport, FL. He specializes in wor...
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