4 Key Trends Homebuyers & Sellers Should Watch in 2019
According to Realtor.com, you should keep an eye out on these 4 key trends in the housing market for 2019.
- We'll have more homes for sale, especially luxury ones.
- Inventory growth is finally starting to recover at a rate less than 7% this year.
- Affording a home will remain tough
- Incomes rates are only growing at about 3% on average, and with interest rates expected to continue to rise (along with home prices), affordability will remain an issue for new homebuyers.
- Millennials will still dominate home buying
- Millennials are the largest generational group of homebuyers at 45%. Some of them are even moving up now from their starter homes. They are also going to be more price-conscious than previous generations as they typically are carrying student debt and want to be able to travel as well.
- The new tax law is still a wild card
- We won’t notice a big change until the new law goes into effect in April 2019.
- Will likely effect those who own or are buying higher-priced homes and who will be paying higher taxes.
*Courtesy of Realtor.com