2018 Housing Market In Review

2018 Housing Market In Review



when it comes to the housing market 2018 had its share of ups and downs depending on whether your a buyer seller a veteran homeowner or a first-time home buyer I'm Scott Gordon founder of open mortgage and I'd like to talk to you about what changed and challenges in the market and why I'm optimistic about 2019 we've seen a lot of changes and one trend emerged back in spring a lack of supply and hot markets translated to a seller's benefit and the number of houses sold began to go down as demand was so high we ran low on homes for sale the other trend to make waves was that a healthy and stable economy led to higher interest rates the Fed raised its key interest rate for the third time in signal one more increase might be coming so what does this mean for you if you're hoping to buy well nar the National Association of Realtors believe the housing market will improve in coming months because inventory in an area determines home values so with rates rising sales will cool and there will eventually be more homes and fewer buyers with more inventory prices are likely to come down a little so here's my advice as we move into 2019 consider what you can safely afford and remember that refinancing after you have some equity built up in your home is always an option when rates dip and open mortgage we believe that owning a home is worth the ups and downs both for the sense of community it inspires and because the security that comes with investing in something tangible feels good regardless of the housing market cycles we're right here with you and if you're looking to make your dream of owning a home a reality let us know we want to help speak too soon

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