What do the experts forecast for the 2019 Housing Market?
Lawrence Yun, chief economist at the National Association of Realtors®, recently gave his 2019 housing forecast.
Several key points he made:
– home prices to continue to increase, though at a slower pace,
– Consumers should expect the number of home sales to flatten,
– 2017 was the best year for home sales in ten years, and 2018 is only down 1.5 percent year to date.
“As to the possibility that we are currently experiencing a small bubble, Yun was quick to shut down any speculation. ‘The current market conditions are fundamentally different than what we were experiencing before the recession 10 years ago,’ said Yun. ‘Most states are reporting stable or strong market conditions, housing starts are under-producing instead of over-producing and we are seeing historically low foreclosure levels, indicating that people are living within their means and not purchasing homes they cannot afford. This is a stronger, more stable market compared to the loosely regulated market leading up to the bust.'”
Read the entire article here.
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Also….check these out??
Picture from National Association of Realtors