At the end of last year, Forbes published a very interesting article as a forecast for this year of 2019. And the facts pertain to buyers and sellers and investors—HEY! All things the OHT love to help people do and accomplish around D-FW.
So, see what you think… because these facts seem convincing and they are encouraging too.
Here’s a taste:
-Mortgage rates will continue rising.
“Despite steady climbing for the past two years, mortgage rates remain lower than they were during most of the recession and below average for the type of strong economic growth we’ve been experiencing. That will change in 2019, as the 30-year, fixed rate mortgage reaches 5.8% — territory not seen since the dark days of 2008 when rates were racing downward in response to the housing crisis.” — Aaron Terrazas, director of economic research for Zillow
-Millennials will keep buying homes — despite those rising rates.
"The housing market in 2019 will be characterized by continued rising mortgage rates and surging millennial demand. Rising rates, by making housing less affordable, will likely deter certain potential homebuyers from the market. On the other hand, the largest cohort of millennials will be turning 29 next year, entering peak household formation and home-buying age, and contributing to the increase in first-time buyer demand.” — Odeta Kushi, senior economist for First American
-Home buying power will decrease, but that could be a good thing.
-Overall home sales will drop.
-Inventory troubles will ease — not too much, though.
And more. Check out the article!
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