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What is the Housing Market Looking Like For the Near Future?

Posted by Andree Huffine, PA on Thursday, September 27th, 2018 at 3:42pm.

 

Have you ever been personally and financially ready to pull he trigger on buying a home, yet were hesitant because of outside factors such as the economic and housing market outlook? You’re not alone. Thousands of people across the country every year are renew their lease and continue shredding dollars renting because there are outside forces delaying their buying process.

 

There are a lot of factors that affect the housing market such as inflation, economic woes, etc. However, the fall elections and 2020 Presidential elections are on people’s minds. Everyone’s eager to buy or sell at the right time and depending on who wins the next presidential and congressional elections in Washington could skyrocket or slightly hurt the housing market. According to GordCollins.com “The US economy is predicted to grow 3 to 5% (currently at a rate of 4.2%), and with house construction intact, and employment strong, and US wages rising, we’ll see more Americans buying a home. For many happy people, it will be their first home.” This is great news for the home-buyer.

 

Though new home construction dropped a bit this year, the market is still at a significant high and now is undoubtedly the best time to buy or sell your home. In 2019 the market will only keep improving. The Wall Street Journal predicts mortgage rates to slightly increase but that 2019 is still the year that first time buyers especially should start looking.

 

So, what is the overall housing market synopsis for the next couple of years? Well, the US housing market continues to grow with rising prices, new construction, with pillars supporting this by a strengthening economy. City housing markets across the country especially in California, Texas and Florida. This is fantastic news for Floridians or those who wish to move to the Sunshine State. It is a sellers’ market and 2019 and 2020 are looking to be very bright for people to buy. Start researching the markets, homes in your area or where you want to move to. Now is the time!

 

 

 

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