Housing Market Predictions

Housing Market Predictions for the Rest of 2019

Some of the top real estate industry experts share their housing market predictions for the remainder of the year. Many home buyers and sellers are wondering how the economy, decline in interest rates as well as home price and wage appreciation may impact the real estate market.

Here’s what some of the housing market predictions by experts:

Ralph McLaughlin, Deputy Chief Economist for CoreLogic

“We see the cooldown flattening or even reversing course in the coming months and expect the housing market to continue coming into balance. In the meantime, buyers are likely claiming some ground from what has been seller’s territory over the past few years. If mortgage rates stay low, wages continue to grow, and inventory picks up, we can expect the U.S. housing market to further stabilize throughout the remainder of the year.”

Lawrence Yun, Chief Economist at NAR

“We expect the second half of year will be notably better than the first half in terms of home sales, mainly because of lower mortgage rates.”

Freddie Mac

“The drop in mortgage rates continues to stimulate the real estate market and the economy. Home purchase demand is up five percent from a year ago and has noticeably strengthened since the early summer months…The benefit of lower mortgage rates is not only shoring up home sales, but also providing support to homeowner balance sheets via higher monthly cash flow and steadily rising home equity.”

So, the housing market will be strong for the rest of 2019 according to housing market predictions by the experts. If you’d like to know more about our specific market, let’s get together to discuss what’s happening in our area.

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Bottom Line:

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