2019 National Housing Forecast released by Realtor.com, interesting stuff!
They are predicting mortgage rates ticking up as well as 2% national home price growth, resulting in significant affordability decline, fewer sales, and difficulty for both buyers and sellers.
Some other interesting bits too, including individual market predictions (fingers crossed Portland’s 5% growth estimate is accurate!). Millennials will make up nearly half of home sales. More inventory in mid to upper-tier, difficulty for first-time buyers.
This will also be the first year that homeowners see the results of the new Trump tax plan. Doubled standard deduction means less incentive for home ownership, which might have a big impact on the market.