As we look into 2018, one thing is for certain: housing will remain a major player in the U.S. economy, and buyers and sellers who are prepared to seize opportunities will come out ahead.
Interest Rates
The Federal Reserve has announced that it will raise interest rates three times in 2018. This means that mortgage rates are likely to increase, although they are still at historically low levels.
Housing Prices
Home prices are projected to increase by 4.1% in 2018, according to a report by CoreLogic. This is a slower pace than in previous years, which may provide relief for some buyers.
Inventory Levels
Inventory levels have been a major challenge for the housing market in recent years. However, builders are expected to increase production in 2018, which could help meet demand.
National Association of Home Builders
Conclusion
Overall, the housing market is expected to perform well in 2018, with increased sales activity and moderate price appreciation. Buyers and sellers who stay informed and work with experienced professionals will be well-positioned to succeed.
