Realtor.com’s 2019 housing forecast
Realtor.com makes interesting predictions about 2019. House prices are expected to increase more slowly than expected. House prices to increasing by 2.2% nationally according to Realtor.com.
Areas from the 50 largest markets forecasted to have the largest price increases include Grand Rapids, Michigan at 8.2%, Las Vegas-Henderson-Paradise, Nevada at 7.9%, Boise City, Idaho at 6.9%, Denver-Aurora-Lakewood, Colorado at 6.8%, and Deltona-Daytona Beach-Ormand Beach, Florida at 6.3%.
According to Realtor.com’s report, rates to hit 5.5% by the end of next year. Home will cost 8% more per month than in 2018. Home sales may decline by 2 percent next year. This situation why could it be housing market downturn.
Danielle Hale -realtor com’s chief economist- according to the his explain, “Unfortunately, it’s only going to even cost more to buy, especially in the entry level market. To be successful, buyers should think through how they’ll adapt to higher rates and prices,”
“Some buyers will be thinking I can’t even afford a home. They will have to struggle with the decision of what they want versus what they really need,” He adds.
Probably that national number will remain low in 2019 at less than a 7 % increase.
Sudden changes in prices will force vendors.
Experts says ıf sellers want to move their homes quickly, they need to make sure it’s priced to sell so it won’t languish on the market.
Hall says Sellers were in a dream market in several ways and that is changing.
Sevdenur Demir/ realestatecoulisse. com