If you are thinking about purchasing or selling real estate in 2019, it is worth your time to learn about the current trends in the market. The more informed you are, the better you will be able to make decisions that you can be happy with.
Real Estate Trends – 2019
1. Mortgage rates are going to keep going up
The low mortgage rates that have characterized the market for the past few years are soon going to be a thing of the past. The 30-year, fixed-rate mortgage rate will climb to 5.8%, something that has not been seen since the housing crisis a decade ago.
2. Millennials are going to be buying more houses
Since the biggest portion of millennials is going to be hitting the ripe age of 29, they can be expected to purchase homes like never before. Even with the rising mortgage rates, they will still be tempted by good housing prices and decent mortgage rates.
3. The amount of homes selling is going to go down
Since mortgage rates are going to go up, you can expect the number of homes that are selling to decrease. The fact is, those that take out a mortgage now are going to be able to buy about 10% less home than they could just a year ago. The less buying power available, the fewer buyers are going to be capable of paying for a home.
Your Source for Fulton, TX Real Estate
It is always a good idea to learn about the current market trends before you go to buy. But it is also a good idea to team up with a real estate team that knows the market where you are going to buy—and we are that team. Contact us today to learn more about real estate in Fulton and the surrounding areas!