What can you expect from our real estate market in 2019? Here are four predictions from our team.
Thinking of buying a home? Search the local MLS here.
Thinking of selling your home? Get a home valuation here.
Want to see our inventory of homes? View our listings here.
Here are four trends that will help you understand the 2019 real estate market better:
1. Inventory will increase, but not enough to meet demand. We should see a bit of an increase in the luxury market, but not enough of an increase in entry-level homes, which have the highest demand. If you’re thinking of selling and have a home in the $650,000 and under range, the market is hot, and we need your home.
2. Mortgage rates will likely rise. The Mortgage Bankers Association predicts that rates will reach a 5.1% average by the end of 2019. That’s higher than what we’ve seen in the last five to eight years, but it’s still fabulous from a historical perspective. Don’t let this increase scare you.
3. Home values will rise at a slower pace. We expect to see an average increase of about 3% in 2019. That’s not a huge increase, but it’s nice and steady. Homes in hot price ranges will obviously see a little bit more of a bump.
4. Investors will benefit from a continued healthy return. We’ve got steady returns in our market, and investors who are looking to diversify their portfolio should look at real estate as an attractive option.
“We expect to see an average home value increase of about 3% in 2019.”
Working with a real estate professional with lots of local knowledge will be super helpful as you get your real estate goals for 2019 checked off. For more great information like this, please subscribe to our channel. We hope to see you in 2019!
If you have any other questions in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.