2018 Real Estate Trends FRIDAY | SEPTEMBER 22, 2017
The real estate market has been busy this year and a great opportunity for sellers, but what is in the forecast for 2018? Most early forecasters agree that home prices will continue to rise. How much will they rise? There is not a general consensus. They go anywhere from 3-5%. Either way, this is good for buyers. Prices have risen much higher in the past.
Mortgage rate news is not so sunny. Mortgage rates are expected to rise in 2018, and may hit the 5% benchmark. Still affordable for some, but could knock some out of the buying pool, especially those with high student debt.
Boomerang buyers could make up for some of these buyers. Boomerang buyers are those 10 million Americans forced into foreclosure when the housing bubble burst around 2009. Their 7 year foreclosure period is ending and they are ready to buy again. A lot of these buyers are looking for low down payment loans, such as FHA. A lot of these boomerang buyers are in their 50’s and have been renting and are ready to take the plunge again, a little older and wiser.
Land sales are up as well as an increase in home construction. It looks to be a guarded but prosperous 2018. Visit www.agentrising.com for more real estate news. Find out how you can take our online real estate and start your real estate career. Find out how you can receive free tuition with Scholarshare.