Should You Buy or Sell in 2018?
Real Estate Forecast 2018
The 2018 real estate market is looking good for sellers. Most markets are positive with another group of buyers coming into the market (bankruptcy survivors who waited out their 7 year exile).Labor shortages, rising mortgage rates, and higher lumber costs are looming which could mean house prices could rise, and perhaps fewer resale houses will be for sale. This fall, new home sales have been brisk as reported by the Commerce Department.People are buying and prices are rising in most major markets. There’s lot of data and insight in those post to help decide when to buy, sell, or invest. Good luck!
Houses For Sale – Should You Buy or Sell in 2018?
The housing problem has been brewing for 7 years and it’s the worst for California. Yet with crisis comes opportunity for capable real estate investment people. Homebuyers will need to be creative and well informed to match their income and buying power to the lofty prices being sought for houses for sale across the country. In this EPIC United States Housing Report with predictions for 2018 to 2020, you’ll discover the hottest markets, zip codes, get stats and understand the key fundamentals that are driving the real estate markets today. Is a housing market crash possible? See the post on the best cities to invest in real estate. Where can you find houses for sale with the best upside potential as a high return property investment?
Housing Experts
Predictions and a Lot More
Experts predictions are mostly rosy forecasts of markets from Los Angeles and San Diego to New York. Despite talks of housing bubbles, it’s happy times for sellers putting their house up for sale, but tough shopping for home buyers and investors. Most real estate sales and real estate investment experts are predicting a strong year ahead for US housing in 2018 for the next 5 years. This post has numerous insightful charts, videos and perspectives to help you understand the housing market in 2018 and beyond. Let’s start off with the newly released 2018 Forecast from Freddie Mac. The predict a good year ahead with a solid 5% growth in price. They note that the aging population could keep demand subdued although limited housing for sale should create upward price pressure.
Experts predictions are mostly rosy forecasts of markets from Los Angeles and San Diego to New York. Despite talks of housing bubbles, it’s happy times for sellers putting their house up for sale, but tough shopping for home buyers and investors. Most real estate sales and real estate investment experts are predicting a strong year ahead for US housing in 2018 for the next 5 years. This post has numerous insightful charts, videos and perspectives to help you understand the housing market in 2018 and beyond. Let’s start off with the newly released 2018 Forecast from Freddie Mac. The predict a good year ahead with a solid 5% growth in price. They note that the aging population could keep demand subdued although limited housing for sale should create upward price pressure.
The need to refinance is low, homeowners aren’t too stressed out, and they’re
using home equity to buy things which is good for the economy. Overall,
Freddie Mac’s report is positive for 2018.
Hottest Real Estate Markets This Past Summer
Let’s look at the hottest housing market which is the city of Vallejo California. It’s a good example because it hints at where the opportunities are and where they aren’t. Vallejo, California was named by Realtor.com as the best city with the best outlook. Prices in nearby San Francisco and Bay Area housing market are so pricey, that buyers are willing to look to the north in Vallejo for what are ultracheap properties. As Vallejo’s neighborhoods improve, demand here could rocket for many years.
Best cities for finding houses for sale and get a great return. For investors or buyers with minimal cash, the cities of Kennewick, Detroit, Fort Wayne, Modesto, Fresno, and Waco look to offer the lowest prices on houses for sale.
Hottest Real Estate Markets This Past Summer
Let’s look at the hottest housing market which is the city of Vallejo California. It’s a good example because it hints at where the opportunities are and where they aren’t. Vallejo, California was named by Realtor.com as the best city with the best outlook. Prices in nearby San Francisco and Bay Area housing market are so pricey, that buyers are willing to look to the north in Vallejo for what are ultracheap properties. As Vallejo’s neighborhoods improve, demand here could rocket for many years.
Best cities for finding houses for sale and get a great return. For investors or buyers with minimal cash, the cities of Kennewick, Detroit, Fort Wayne, Modesto, Fresno, and Waco look to offer the lowest prices on houses for sale.
City Rank
|
Housing Market
|
Average Home Price – July 2017
|
1
|
Vallejo,
CA
|
$355,000
|
2
|
Kennewick,
CA
|
$225,000
|
3
|
San
Francisco, CA
|
$1,300,000
|
4
|
San
Jose, CA
|
$840,000
|
5
|
San
Diego, CA
|
$555,000
|
6
|
Stockton,
CA
|
$250,000
|
7
|
Columbus,
OH
|
$150,000
|
8
|
Fort
Wayne, IN
|
$50,000
|
9
|
Sacramento,
CA
|
300,000
|
10
|
Detroit,
MI
|
$42,000
|
11
|
Dallas,
TX
|
$118,000
|
12
|
Colorado
Springs, CO
|
$255,000
|
13
|
Yuba
City, CA
|
$269,000
|
14
|
Fresno,
CA
|
$23,000
|
15
|
Waco,
TX
|
$83,000
|
16
|
Modesto,
CA
|
$26,000
|
17
|
Denver,
CO
|
$360,000
|
18
|
Ann
Arbor, MI
|
$320,000
|
19
|
Santa
Cruz, CA
|
$775,000
|
20
|
Santa
Rosa, CA
|
$530,000
|
In some markets such as California, home prices have leveled off a little from their relentless climb. There is a slight risk of a burst housing bubble. Outside of major city markets, the price growth potential in the next 5 years is highest. Some cities are hurting so invest carefully. Take a look at the best cities to invest in real estate and share your stories of which cities we should know about.
Here’s 8 Reasons Why People Are Still Eager to Buy Real Estate:
1. home prices are appreciating and it’s a safe investment over the long term
There are more renters now than in the last 30 years.US homes are at their highest value everForeign buyers buying record number of propertiesHousing starts more than expected but not enough to fill demandNew Houses for sale dropped 3.4% in AugustResale houses for sale drops in AugustHow high can prices for houses for sale go in Southern California?
Check out these other posts for homebuyers, investors, and realtors:
How to Sell Over Asking Price | 14 Ways to Improve Your Selling Price | When Should I Sell My Home? | Student Housing Investment | 10 Tips for Home Sellers Who Must Have the Best Price | Home Sellers Pricing Strategy | Better House Market EvaluationDo the Underlying Economic Fundamentals Support Higher Home Prices?Some think housing shortages will keep home prices high. However the economy is looking good and unemployment is low. This is a time when you can take changes to improve your life however, it’s wise to consider specifically where the real opportunities are. That might even include Real Estate Investing and investing in Rental Income Property. 30% to 40% ROI speaks pretty loudly!There are plenty of home buyers (Canadians and Chinese) out there if you’re considering putting your house up for sale. And especially first time home buyers this year. Millennials are hungry for housing. If you’re looking for support about the housing market fundamentals, keep reading below.Housing experts are predicting existing home sales of 6 to 6.5 million units in 2017 and then above 1.3 million new homes being built per month from 2018 to 2024. The building is resuming now that the hurricanes and forest fires are over.
Will it be enough to support the economy? When American builders are feeling optimistic, it’s a good omen, however 1.5 million units per month is needed to fill forecasted demand for housing.
Will Los Angeles Lead the Nation in 2017 in Real Estate?
Interest in rental income investment and apartments is particularly strong now in places like Miamic, Dallas, Seattle and San Francisco. The Los Angeles housing, San Diego housing, San Francisco Bay Area housing markets are just a few to look at. Seattle, Denver, Dallas, South Florida, Palm Beach, and New York have a promising outlook too.
Here’s a short list of positive factors that will affect the US Housing Market 2017 and beyond:
1. moderately rising mortgage rates
Housing Construction Starts Will Slowly Rise
It’s predicted that new home construction won’t keep up with demand, however it is recovering and we’ll see more renters becoming homeowners over the next decade.
US Housing Construction Starts All Time – on the Rise AgainThe right solution: Build more houses for sale. Let’s begin with a look at how home prices have grown up to 2016 and how that will drive new house construction. Nationwide prices are still $50,000 below the pre-recession highs. Will it take 3 to 4 more years to reach those highs?If construction rates do moderate, prices in the hot markets of Miami, San Francisco, Los Angeles, San Diego, New York, Boston, and Phoenix should rocket to all time highs but what is the risk of a housing market crash? House Renovation too is at an all time high in expenditure and this might have an impact on new housing starts.
US
Mortgage rates are forecast to stay low. Yet recently, mortgage rates have
risen above the 4% mark and homeowners are locking in their home loans at the 30 year period. Some are calling this
the Trump Effect. With Trump in power, lending requirements are
expected to be eased, land opened up for development, and this should stimulate
home purchases. With employment growing and wages moderating upward, the market
is set for growth. Yet, some housing forecasters still cling to the idea that
housing starts will moderate after strong growth to 2020.
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