Learn The Truth About The Current Housing Market

Dated: 07/23/2019

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Learn The Truth About The Current Housing Market

2019 is half way over and speculation is building on these 2 questions:

1. How is the housing market performing currently;

2. Will the housing market continue in this direction?  

The million dollar answers may surprise you!  Further discussion will reveal that predictions of a housing market slow down did not live up to the hype as predicted in 2018.  The looming doom and gloom of a crashing housing market did the exact opposite.  A seller's market stayed strong and multiple home sellers have received multiple offers and found themselves in the middle of a bidding war.

Current Housing Market:

The current housing market is performing better than anyone's prediction due to decreasing mortgage interest rates and increasing wages among the workforce.  Danielle Hale, Chief Economist at Realtor.com recently stated, 

        "Lower mortgage rates, higher wages and more homes for sale have helped counteract rising home prices, and ultimately, made it so that buyers are able to afford more than last year."  

David Berson, Chief Economist at Nationwide Economics, commented that,         

        "2019 will outperform 2018" and "we believe that the housing market is poised for another solid year as slower house price growth and lower mortgage rates help affordability."

The Next 6 Months:

What is the prediction the rest of 2019?  Will predictions actually come true and the housing market stay strong?  Or will predictions be just that: a misread forecast?

Danielle Hale, Chief Economist at Realtor.com predicts:

“Our outlook implies 4% growth for the remaining months of the year, predicated on…more supply than last year, the decline in mortgage rates, moderating home price appreciation and improving affordability.”

Whereas, Ralph McLaughlin, Corelogic's Deputy Chief Economist stated,

     "We expect the housing market to enter a normalcy phase over the next 24 months. With prices neither rising too fast nor too slow, and with a growing stream of young households looking to buy homes over the next two decades, the long-term view looks healthy."

Bottom Line:

The housing market is predicted to accelerate for the rest of 2019 and possibly normalize over 2020. There is a plenitude of young households on the rise and a shift of aging households shifting to downsize. No matter if the housing market predictions come true or fall flat, be certain that Team Caropreso will be available to assist home-buyers and home-sellers through every market condition!

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Vincent Caropreso

Being the CEO and Team Leader of Team Caropreso, Vince specializes in Listings, Marketing, REO/Foreclosures,Short Sales and working with Investors. With 19 years of experience and selling over 700 hom....

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