Carmichael CA Realtor| Davis CA Realtor| Craig Diez

Craig Diez - Diez & Sigg Properties

  • (916) 425-5884
  • Email
  • Facebook
  • Instagram
  • Home
  • Search
    • Search All Listings
    • Search by Map
    • Featured Listings
    • Email Alerts
  • Communities
  • Blog
  • About
    • About Craig
    • Client Testimonials
  • Contact

2019’s Housing Market Is Likely to Be Stronger Than We Thought

May 10, 2019 by cdiez Leave a Comment

Clare Trepasso writing for Realtor.com has insight on what will be a great housing market for the rest of 2019.

Despite a real estate slowdown gripping the nation, this year’s housing market is expected to be busier than realtor.com® economists originally predicted late last year. That means more home sales—and higher prices—are on the way.

The anticipated uptick in activity is due to lower mortgage rates, which make homes more affordable for buyers. The economic team expected rates to climb to 5.5% in 2019, but instead, they have hovered around 4%. (They were 4.17% on 30-year, fixed-rate mortgages as of April 18, according to Freddie Mac data.) Economists say rates are now likely to rise a little to 4.5%, still well below what buyers were dreading.

However, it’ll be nothing like the feeding frenzy of recent years.

“It’s still going to be a lukewarm year for the housing market,” says Chief Economist Danielle Hale of realtor.com. “We’re going to see higher prices and slightly higher home sales than we expected. But home sales are still going to decline slightly as a result of the housing slowdown. There’s a gap between what sellers are looking for and buyers are hoping to pay.”

 While a single percentage point difference may not seem that significant, it can add more than $100 to the monthly loan payment on a median-priced home of $300,000. (This assumes buyers put 20% down.) That can translate into tens of thousands of dollars over the life of a 30-year loan.

The downside for buyers—and upside for sellers—is that prices are expected to rise more than Hale’s team originally forecast, going up 2.9% in 2019 instead of 2.2%. That’s because the swelling ranks of buyers motivated by those lower mortgage rates will increase demand—and therefore prices.

Click here for the full article

Filed Under: Real Estate News Tagged With: arden arcade dream homes, carmichael dream homes, carmichael homes for sale, carmichael houses for sale, carmichael luxury home realtor, carmichael real estate agent

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Craig Diez

Craig Diez

California REALTOR®
916-425-5884
Contact Craig
Listing Alerts Your Home's Value

Categories

  • Charity
  • Home Improvement
  • Real Estate News
  • Sacramento Lifestyle

Testimonial

“From the very first call, Craig was polite, professional, personable and knowledgeable. We recommend him highly to anyone with real estate needs!

~ Vicky & Cliff Mackinnon“

  • Email
  • Facebook
  • Instagram

Craig Diez

916-425-5884|Contact Craig

Craig Diez – DRE#01019930

sitemap   •   admin   •   ©2023 All Rights Reserved  •  Real Estate Website Design by IDXCentral.com