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Housing Trends in 2018


Posted: January 10, 2018 at 12:00 AM by Alan Tucker

Housing trends in the coming year are facing a few obstacles.  There will be more available giving buyers more to choose from.  The cost of housing is not accelerating as quickly as in the past and that is good news for first-time homebuyers.  Looking to buy in the first half of the year might be more beneficial as mortgage rates might be raising.  Here are some things that the housing market may see in 2018.

 

More Homes for Sale

The last year was difficult in inventory of homes for first time homebuyers.  The reasons for this were that fewer people were selling their homes as a means to downsize.  Fortunately, there are more homes being built that are affordable to first-time homebuyers including the millennial crowd.  Buyers are getting more for their money because of this housing boom.  

 

Mortgage Rates

Although interest rates for mortgages are hard to predict, most want to believe that they will rise in 2018.  Last year people thought they would rise and they did for a few weeks but then stayed steady and even declined.  Rising mortgage rates could be a deterrent to people buying homes.  It’s best to keep an eye on what the rates are doing and advise your clients accordingly.

 

More Options for those with Credit Issues

Mortgage companies are offering more options for those who do not have perfect credit.  This can be good news for those with college debt, or maybe someone who hit hard times and lost a home due to foreclosure in the past.  This will help with increasing the clientele that may be in the market for buying a home. 

 

The start of a new year can always be uncertain.  Staying abreast of the trends in the housing market is what is going to help keep your business growing and gain the trust of your clients.  


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