The Real Estate Market for 2019 - 10,000 Foot View

Written by Posted On Thursday, 09 May 2019 07:18
2019 real estate market - 10,000 foot overview 2019 real estate market - 10,000 foot overview One Click SEO

10,000 Foot View of the 2019 Real Estate Market

 

The 2019 forecast for buying and selling a home is cloudy with unfavorable terms. There will be higher interest rates and home prices making it more problematic to buy or sell a home in this year. By the end of 2019, mortgage interest rates will average around 5.5%.

This means that your home purchase price could be 8% more expensive than it was in 2018. From 2019 to 2023, home ownership is not expected to be a favorable buyer's market. To buy a home now or in the future, you will have to begin thinking about higher rates and higher real estate prices because a 30-year fixed mortgage rate is reaching 5.8%.

All of that being said, that doesn't mean that the real estate market is going to crash. There are still some good opportunities for homebuyers and sellers alike.

the 2019 real estate market

Home Buyers in 2019

Let's breakdown what homebuyers will have to look forward to. The biggest struggle this year will be a budgetary difference between wants and needs. Yes, the number of homes for sale is vastly increased to the mid and higher end priced realty levels. However, if you are a first time home buyer, the rising mortgage rates will deplete your realty market options because it will probably be out of your budget range.

Although there are many real estate trends for 2019, you keep hearing talk about the Luxury Real Estate market. It may be a great time to invest in luxury real estate in certain markets across the country as the luxury real estate market has taken a little more of a hit but is expected to have solid long term gains.

  

Home Sellers in 2019

As for 2019 home sellers, yes so far it is a seller's market. Median priced home sellers, unfortunately, make find that it will take a lot longer to sell a home. In this event, it is best for sellers to offer some incentives like a price cut or sellers can throw in special offerings. With homes expected to remain limited in most pricing markets, home sellers who can remain competitive will make a nice profit, but not like they could have in prior years, including 2018.

 

Who Are the Buyers?

The fact is that the realty buying market is deemed greater for Millennials who are the largest segment of homebuyers in 2019. Millennials make up the greater portion of all home mortgages followed by Baby Boomers and the GenXers. As a matter of fact, Millennials who are buying homes in 2020 will be the forecasted leaders in home buying for the next ten years. Granted that there is just so much that Millennials can contribute to the buying market economy. New construction seems to be focused on higher realty properties and developers are building less new homes. Then there is the political climate.

 

All Is Not Lost

All is not gloom and doom, REALTORS in the US and Canada both believe that the changes in the housing market are still a hopeful time even though prices and mortgage rates continue to remain cautious.

Selling a home in 2019 is a better time to place your home on the market because there are buyers available and there is no rush because there is no competition. They are waiting to list in 2020 which is bound to lead to a great sales increase. Many Realtors are choosing to try and sell homes using pocket listings, which could affect the quality of the statistics that come from the MLS.

There are still many homes for sale entering the market daily. Whether you’re a first-time homebuyer or a current homeowner, this optimism in the market is due to working with a professional Realtor who can help you with your real estate needs! Navigating through the current real estate market is only one of the benefits of working with a professional.

With the fluctuating realty market for both buyers and sellers, understanding the landscape can make a huge difference in the largest purchase of most peoples lives.

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Dean Cacioppo

Dean Cacioppo Credentials

Dean has worked as a real estate agent, real estate instructor and has years of experience working on the technology side for major Real Estate Brokers, Agents and MLS’s.  Dean has sat on the Board of Directors for multiple MLS’s including being elected to President.  Years of serving on a number of MLS Committees for multiple boards, served on the Strategic Planning Committee for Louisiana REALTORS and participated in many task forces and committees for the benefit of all Real Estate Agents in Louisiana.

Work in Real Estate Technology

Dean has provided live training on technology, direct IT and Technological Support to thousands of Real Estate Agents for over 16 years.  With years of being the go-to guy on technology strategy, training and support for Brokers and MLS’s across the country, you can now have direct access to Dean for your personal technology needs. 

Real Estate is extremely competitive on the web and we specialize in Real Estate Websites and Digitial Marketing for Realtors, Search Engine Optimization for Real Estate and Social Media Marketing for Real Estate.  Please don’t be confused, we are happy to work in all business verticals and have quite a bit of experience in a variety of markets.

For 2019, we have seen an expoetional increase in the ability to generate leads from local SEO for the real estate industry.  This has Google My Business taking a larger share of buyers and sellers looking for real estate online.  We understand that there is a real estate sales cycle that determines how "ready to act" the lead is.  Leads that are aquired for search phrases such as "Realtor around me" or "top realtor in my city" have a much better chance of converting than the indevidual searching for a generic real estate term.  

 

https://oneclickseo.agency

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