- Hi everyone, Chris Loschiavo with Home Team Epic and I Think Realty, I've been doing market updates for Polk County for almost a year now. And in the last month had some requests to take a look at
Whats Ahead In Real Estate For 2019
Dated: January 31 2019
As we begin another year, everyone wants to know: “Where is the housing market headed in 2019?”
It’s not only buyers, sellers, and homeowners who are impacted. The real estate market plays an integral role in the overall U.S. economy. Fortunately, key indicators point toward a stable housing market in 2019 with signs of modest growth. However, shifting conditions could impact you if you plan to buy, sell, or refinance this year.
HOME VALUES WILL INCREASE
The value of real estate will continue to rise. Freddie Mac predicts housing prices will increase by 4.3 percent in 2019.1 While the rapid price appreciation we witnessed earlier in the decade has slowed, the combination of a strong economy, low unemployment, and a lack of inventory in many market segments continues to push prices higher.
"Ninety percent of markets are experiencing price gains while very few are experiencing consistent price declines," according to National Association of Realtors (NAR) Chief Economist Lawrence Yun.2
Yun predicts that the national median existing-home price will increase to around $266,800 in 2019 and $274,000 in 2020. "Home price appreciation will slow down—the days of easy price gains are coming to an end—but prices will continue to rise."
What does it mean for you? If you’re in the market to buy a home, act fast. Prices will continue to go up, so you’ll pay more the longer you wait. If you’re a current homeowner, real estate has proven once again to be a solid investment over the long term. In fact, the equity level of American homeowners reached an all-time high in 2018, topping $6 trillion.3
SALES LEVELS WILL STABILIZE
In 2018, we saw a decline in sales, primarily driven by rising mortgage rates and a lack of affordable inventory. However, Yun isn’t alarmed. "2017 was the best year for home sales in ten years, and 2018 is only down 1.5 percent year to date. Statistically, it is a mild twinge in the data and a very mild adjustment compared to the long-term growth we've been experiencing over the past few years."2
My name is Manny Quiros, I’m a real estate professional in the “Disney Area”, I have lived in this area since 1999 and have called this area my home and place my wife and I to raise our three wo....
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- Hello, everyone. Chris Loschiavo with Home Team Epic and I Think Realty, here once again for our market update. This is for the month of April, 2021 for Polk County Florida. We're focusing on