Q1 Housing Market Update

People are in uproar that we’re headed into the market, that is just like 2008 all over again. Hi, I’m Krista Mashore with Homes by Krista. Well, let’s take a look at what the experts are saying about the home price expectation. The survey is made up of 105. Real estate experts economists and market analysis from Across the Nation 104 of them out of 105, as well as achieved economists at the Mortgage, Bankers Association, Fannie Mae, Freddie, Mac, and the National Association of Realtors all say that we’re going to see an increase in home prices through. 2019, take a look at this graph showing their projections. Notice that all of them are in green, green is good. They see a positive increase in housing prices. Do you remember when the market crashed back in 2008? There was only one person that called out that crash and predicted it before. It was going to happen. It was Robert Shiller. He’s a Nobel Prize winner and the co-founder of a case shriller index. Look at what’s, he says he States you can call it a bubble but it’s not the same. More Placid. I don’t expect a sharp turn in the housing market at this point. So what does this mean? And how does it affect you for buyers? Who is waiting around for the market to crash? Re-evaluate with the true? Experts are saying they are expecting increases through 2020 with an average of five points. Four percent positive, increase to two point nine percent increase through 2022. Here’s something to be concerned about though for both buyers and for sellers Freddie, Mac. Is predicted that interest rates will increase up to five point three percent. By the end of the fourth quarter, you’ve got to act now. Sellers as interest rates increase the number of buyers who can qualify your home actually decreases fire as interest rates. Increase your buying power goes down and you can afford less. What does this mean? It means it’s time to act now.

So quit listening to what they say and listen to what the true experts say. And as always, feel free to reach out to me or my company for any information, both real estate and Community-related. We are here to help