Today we have your real estate forecast for 2018. Learn what to expect for the market next year based on trends we’ve noticed this year.
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As we conclude 2017, which has been an excellent year, we wanted to give you a quick market snapshot of what’s to come in 2018.
One of the key driving forces for next year will be in the increase in new construction home sales, which will increase from 1.22 million this year to 1.33 million in 2018. With regards to home sales, they predict a 4.9% increase in the number of homes for sale in terms of average sales price in 2018, as compared to the 6.3% average we’ve seen in 2017.
On the mortgage side, 2017 has been a great year, probably one of the best that we’ve had since the meltdown. With the job growth and rate hikes we’ve seen this year, we expect 2018 to be even better.
Rates are expected to increase next year, in addition to the increase just levied in December. This isn’t a bad thing—it’s a good thing. It means that there’s a lot of expansion in the job market. And though rates are expected to rise at least a couple more times next year, I don’t see that being a problem in terms of the real estate market. The job report that was recently released was phenomenal. Since people have jobs, that means they’re buying houses.
If you have any questions regarding buying or selling real estate, contact me via phone or email. You can also contact David Bowen for any questions about pre-qualifying or pre-approval for a home loan. We’d love to help you out.
One of the key driving forces for next year will be in the increase in new construction home sales, which will increase from 1.22 million this year to 1.33 million in 2018. With regards to home sales, they predict a 4.9% increase in the number of homes for sale in terms of average sales price in 2018, as compared to the 6.3% average we’ve seen in 2017.
With the job growth and rate hikes we’ve seen this year, we expect 2018 to be even better.
Rates are expected to increase next year, in addition to the increase just levied in December. This isn’t a bad thing—it’s a good thing. It means that there’s a lot of expansion in the job market. And though rates are expected to rise at least a couple more times next year, I don’t see that being a problem in terms of the real estate market. The job report that was recently released was phenomenal. Since people have jobs, that means they’re buying houses.
If you have any questions regarding buying or selling real estate, contact me via phone or email. You can also contact David Bowen for any questions about pre-qualifying or pre-approval for a home loan. We’d love to help you out.
