My Predictions for the Real Estate Market in 2018
Home Prices Will Continue to Surge – Depending on the source, home prices shot up nearly 7% last year. Experts are expecting home prices to go up another 4.4% by the end of 2018. This is great news for homeowners!
Low Inventory Will Continue to Be an Issue – Although new builds are up, the price points of these new homes aren’t typically where the majority of the need lies. According to Trulia, only 6% of homeowners are planning to sell in 2018.
Mortgage Rates Will Hover Around 4-5% – We’re still in great shape with historically low mortgage interest rates. I expect some small fluctuations throughout the year, but I believe we’ll close 2018 at around the same place.