It’s all about the upcoming year in this week’s collection of real estate news stories. What do you foresee happening in 2018? Share your comments below!
Watch: Home prices set to soar in 2018
The news for prospective homebuyers in the coming year is as bleak as the winter weather hitting much of the nation: As more and more buyers line up for fewer and fewer homes available, prices are going to keep going up. And up. And up.
(:05) If you’re a seller—great news!
(:09) If you’re a buyer—good luck!
(:17) Home sale prices jumped 7 percent annually in November, according to CoreLogic.
(:29) There is no slowdown in sight.
(:32) The supply of homes continues to shrink.
(:40) A strong economy means demand continues to rise.
(:46) With fewer homes on the market, competition will be tight.
Read: Will new homebuyers be able to get a mortgage in 2018?
For many people, the new year means a whole new set of resolutions—and perhaps aspirations. If becoming a homeowner is on the list of what people home to accomplish in 2018, the question is this: Will they qualify?
The good news is that mortgage approval rates are nearly 90 percent. The not-so-good news is that mortgage rates are expected to rise.
Experts are optimistic, however, that 2018 will still be a good year to become a homeowner. Programs that take into account low down payments between 3 and 10 percent rather than the traditional 20 percent will also help.
Will You Be Able to Get a Mortgage in 2018? https://t.co/Cet67PYTRW
— Access Brokerage Inc (@abirenews) January 5, 2018
Read: Housing outlook 2018: 6 predictions from the experts
This time of year, it’s all about predictions—and we’ve got ‘em. This time several experts weigh in—and some of the trends might surprise you.
- Home sales will start out slow, then gain momentum as the year goes on.
- The inventory crunch that started back in 2016 will just continue to get worse as fewer homes are available.
- Prices will continue to go up—but at a slower pace than in the past few years.
- It might start making more sense to rent than to buy—especially in expensive markets.
- Mortgage rates will stay in the 4 percent range.
- Millennials will continue entering the market, but at higher rates than in previous years.
Read the full article here.
Are you thinking of buying or selling a home this year? Here’s what some experts predict will happen in the 2018 housing market: https://t.co/kcoSwkeJLB
— SkippingStoneWealth (@skipstonewealth) January 5, 2018
Watch: Agrihoods: The newest trend in millennial living
Millennials looking for a simpler way of life are moving to the country in communities that are built around a local farm. These agricultural neighborhoods have been dubbed “agrihoods.”
(:26) Residents are able to enjoy nature’s bounty on a daily basis.
(:46) Residents pay an annual fee to purchase shares of the local farm, and they are able to be connected with the food and with the local farmer.
(:56) The other advantage is that residents are surrounded by nature, which is reported to decrease stress levels.
(1:02) There are now more than 100 agrihoods across the country.
Watch the full video here.