Slowing Market Good for Both Buyers and Sellers

Slowing Market Good for Both Buyers and Sellers


Experts are predicting that the housing market will slow down in 2019. But, that’s not such a bad thing. A slower market is more stable and offers advantages for both buyers and sellers.

The 30-year fixed-rate mortgage averaged 4.45% in mid-January 2019, according to Freddie Mac. While rates were nearly half a point higher than they were a year ago, they’ve since pulled back, making homes a little more affordable for homebuyers heading into spring.

Existing home sales in December 2018 were the lowest since November 2015, more than 10% lower than year-ago levels, reflecting sensitivity to rising interest rates and prices, according to The National Association of REALTORS. NAR chief chief economist Lawrence Yun explained that softer December sales reflected homes under contract at higher mortgage interest rates.

NAR also reported that the median sales price was $253,600, 2.9% higher than a year ago. While gains have been higher in previous years, prices are still rising – a benefit to home sellers.

Realtor.com economist Danielle Hale told Forbes.com that 2019 will bring less competition for homebuyers as the inventory of homes increases on the market. The Realtor.com forecast for 2019 is a 2% decline in home sales volume and a 2.2% rise in home prices from 2018.

These statistics are national averages, and market conditions could be very different in your area. Your Berkshire Hathaway HomeServices network professional can share important local data with you that will improve your ability to buy or sell a home.

Jason Lash
Team Lead and Associate Broker
Berkshire Hathaway HomeServices Michigan Real Estate
Office: 616-447-7045
Cell/Text: 616-821-1350
www.GRHomes.net


Tags: 
Ada Homes for Sale, Allegan Homes for Sale, Belding Homes for Sale,  Byron Center Homes for Sale, Caledonia Homes for Sale, Cedar Springs Homes for Sale, Comstock Park Homes for Sale,  Downtown Grand Rapids Condos for Sale, East Grand Homes for Sale, Featured ListingsForest Hills Homes for Sale, Grandville Homes for Sale, Grand Haven Homes for Sale, Grand Rapids Condos for Sale, Grand Rapids Homes for Sale, Greenville Homes for Sale, Holland Homes for Sale, Hudsonville Homes for Sale, Jenison Homes for Sale, Kenowa HIlls Homes for SaleKent City Homes for Sale, Kalamazoo Homes for Sale, Kentwood Homes for Sale, Lakefront Homes for Sale, Lake Michigan Homes for Sale, Lowell Homes for Sale, Newaygo Homes for Sale, Muskegon Condos for Sale, Northview School District Homes for Sale, Norton Shores Homes for Sale, Paw Paw Homes for Sale, Portage Homes for Sale, Rockford Homes for Sale, Sparta Homes for Sale, Tri County Homes for Sale, Vicksburg Homes for Sale, Walker Homes for Sale, Wayland Homes for Sale, Wyoming Home for Sale,
Zeeland Homes for Sale

Search for Condos

Byron Center Condos for Sale, Caledonia Condos for Sale, Downtown Grand Rapids Condos for Sale, Forest Hills Condos for Sale, Grandville Condos for Sale, Grand Rapids Condos for Sale, Jenison Condos for Sale, Kentwood Condos for Sale, Lowell Condos for Sale, Rockford Condos for Sale, Walker Condos for Sale, Wyoming Condos for Sale

Community Information

Ada Realtor, Belding Realtor, Byron Center Realtor, Caledonia Realtor, Cedar Springs Realtor, Comstock Park Realtor, East Grand Rapids Realtor, Forest Hills Realtor, Grandville Realtor, Grand Haven Realtor, Grand Rapids Realtor, Greenville Realtor, Holland Realtor, Hudsonville Realtor, Jenison Realtor, Kalamazoo Realtor, Kentwood Realtor, Lowell Realtor, Paw Paw Realtor, Rockford Realtor, Sparta Realtor, Walker Realtor, Wyoming Realtor, Zeeland Realtor,
Grand Rapids Foreclosures, Preferred Providers,  Blog

Post a Comment