Hear from The Robin Group on what to expect from the Housing Market in 2018.
What can you expect in the Real Estate industry in the upcoming year.
Here is our Housing Market Forecast for 2018.
Game changer 1 – Supply Catching Demand
So, if you were on the fence about buying a home in 2017 or if you had gotten discouraged because you couldn’t find your dream home, the tide is about to change! We expect to see the supply of homes for sale increase significantly by the end of the year. There will be a lot more options out there for you to find your dream home.
Game changer 2 – Millennials
Millennials are starting to come into their own. Millennials alone are expected to make up 43% of the home buyers taking out a mortgage by the end of 2018. That’s a whole lot of purchasing power. They aren’t looking to purchase basic starter homes either, they want what we’ve coined as “new age starter homes“. Millennials are buying homes above builder grade with granite or marble counters, stainless appliances, added amenities, and higher end finishes, in up-and-coming areas.
Today there are a ton of loan program options available making it possible for even Millennials with large amounts of student loan debt to still qualify for a home and, sometimes pay no money down! If you think you may not qualify for a home loan or do not have enough money to put down, give us a call today at 504-509-4771 to see if you qualify – the results may surprise you.
If you are on the fence about purchasing, you shouldn’t wait too long to buy as interest rates are expected to reach 5% by the end of 2018. We all know what happens when interest rates go up = buying power goes down. Every day that interest rates increase, you lose buying power as a purchaser. We expect to see interest rates consistently rise in 2018.
Game changer 3 – Southern homes are selling like hot cakes
The states are luring corporations to the South through different incentives, lower cost of living, our Southern Hospitality alone are driving people here, and as a result homes are selling FAST! Ready to sell your Louisiana Home?
Game changer 4 – Tax Reform
Still yet to be decided, but what we do know is that even if the tax reform passes it will affect higher priced homes and mostly in coastal areas, even more reason for you to come on down to the “dirty south”.
If you are ready to make your next move give us a call today 985-778-2525, or complete our contact form below!