Are you looking to buy or sell? These are the hot trends you need to look for with the new year and beyond.
- Home Prices Are Slow To Rise – According to reports from last year, home prices were slower to rise compared to the previous year. It looks as though nothing is going to change this year, either. That is going to mean a nice profit for those who want to sell their home. However, I would exercise caution with this. You need to wait for the right offer. Some sellers are so excited to accept any offer that they pounce on the first one they get.
- The Mortgage Rates – The rates are slowly decreasing, but do not get too comfortable with that. It is only a matter of time before they start to increase. Remember, ongoing tariffs and trade wars are happening right now. The rates are going to increase, especially if the wars continue. The big upside to this decrease is that more buyers are going to jump on an offer. That means you have a better chance of selling right now. A mortgage is a big commitment. Buyers are more likely to pick a slow and steady rate decline compared to a fast incline.
- Millennials – You will win the bet if you think that millennials are the primary buying power. There are two types of millennials. There is the “me” millennial and the “mega” millennial. The first type is not going to have the money to invest in a high-end value property if you have one. However, the second type is looking to buy and buy now. They have the disposable income to buy. Mega millennials offer incredible purchasing power. That is why you need to make sure your property is fit for them to buy. Upgrade what needs to be upgraded and leave the rest.
- Equity – Equity is going to continue its steady decline (for now). That means you might want to think about selling your home in the next two years. That way you can get a nice profit from it. We cannot predict what equity for the next few years until this year is over.
- Market Crash – According to statistics, the market is not going to crash right now. Who’s to say what will happen a few years from now. That is why experts suggest you enjoy it while you can.
- Interested Parties – There are people still interested in buying, selling, or both. You just must know where to look in your neighborhood.
- The Agent – Always choose an agent that fits your interests and needs. That trend is never going to change.
You can stop your search here for the top realtor, I can help you find or sell your next home today!