The US Housing Market Outlook
The National Market as we begin 2019, home sales are down 1.5 percent from a year ago. Experts say that many buyers are priced out of the market or they’re waiting until more homes within their price range are available.
Three things to watch for in 2019
- Interest rates, experts predict the Federal Reserve will increase interest rates two times in 2019. However, increases are expected to be gradual.
- Inflation is expected to increase slightly in 2019, due in part to a strengthening labor market and tariffs.
- Strength of economy continues to grow and strengthen, a trend that is expected to endure in 2019.
If you are thinking of buying in 2019 there are three things to do now:
- Boost your credit score – this may help you secure a better interest rate, which will lower your payment and save your money each month.
- Save more for a down payment – a bigger down payment equals a smaller mortgage and lower monthly payments
- Please call or text us – together we can determine the must-have features of your ideal home and connect you with a reputable lender for mortgage preapproval.
If you are thinking of selling in 2019 there are three thing to do now:
- Call us for a free comparative market assessment – we will show you what our home is worth and how we obtain our assessment, as well as offer suggestions to improve your home’s value.
- Declutter your storage and living spaces – it may be easier to sort through and donate items now, instead of waiting until it’s time to move.
- Assess your home’s condition and make a list of potential repairs – this will help you prioritize the home repairs tasks you need to complete before you list your home.
Please contact us at 612-701-5289 to discuss your 2019 selling our buying plans. We look forward to helping you reach your goals.
Information provided by Buffini & Company