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
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.