Is 2018 The Year To Buy A House

Dated: 02/14/2018

Views: 131

Home buyers aren't going to catch much of a break this year.

Sellers will remain in the driver's seat as buyers continue to face affordability issues thanks to low housing supply.

"The challenges for buyers in the market haven't changed that much from last year" said Keith Gumbinger, vice president of mortgage website HSH.com.

Powered by SmartAsset.com SMARTASSET.COM

What's more, home loans are expected to get more expensive as the year progresses.

Here's what home buyers and sellers can expect from the housing market this year:

Homes will remain in tight supply

The supply of housing still won't be able to keep up with demand this year, experts predict. And the homes that do hit the market will sell fast.

A balanced housing market tends to have about six months of supply, according to Nela Richardson, chief economist at Redfin. In December, the market had less than three months of supply, and homes were selling five days faster than the year before.

Richardson expects 3% more sales this year compared to 2017. But competition will be fierce.

"First-time buyers are going to have to juggle a lot of balls," she said. "As long as we have an inventory shortage we will have bidding wars."


Read more....http://money.cnn.com/2018/01/23/pf/buy-a-home-2018/index.html

Latest Blog Posts

Three Reasons Why Fall Leaves Bring SOLD Signs

You’ve been thinking of selling your home, but now that summer has come to an end, you feel like you’ve lost your best opportunity and just need to wait until next year. Well…You

Read More

5 Steps to Maximize Your Home Appraisal

If you’re looking to refinance your home or possibly sell, you’ll need a killer appraisal. A bank will not refinance a home for more than it is worth, and a potential buyer will not pay

Read More

Creating A Luxurious Master Bedroom

For most of us, our bedroom is little more than a place to sleep and relax. However, just because it’s always been that way doesn’t mean that we have to settle for drab and dreary. 

Read More