An ease in the housing inventory shortage, improving economy, job growth and rising consumer confidence should make 2018 a great time to buy a home. However, while many Americans say now is a good time to sell, only six percent say they plan to sell their homes in the next 12 months. If that is true, with less inventory, the stage for 2018 is set for another seller’s market.
Ken Rosen, chairman of Rosen Consulting Group and UC Berkeley’s Fisher Center for Real Estate and Urban Economics explains the significance of these factors relative to the U.S. financial economy: “Home ownership helps households accumulate wealth over time, reduces inequality, increases investments in communities and boosts economic growth.”
Real estate experts weigh in about positive signs for the U. S. housing market:
- The U.S. Census Bureau reports current home ownership is healthy, at 69.3 percent.
- Freddie Mac says that home sales are expected to increase slightly in 2018 as new home sales overtake the market.
- TransUnion points to stricter lending requirements, which they say have led to fewer mortgage delinquencies. Delinquency rates are expected to fall to record lows in 2018.
Realtor.com shows the market will begin to see “more manageable increases in home prices and a modest acceleration of home sales.” They also predict Millennials will begin to increase their market share of homeownership in 2018 and suggest new home sales will see the most significant increase, fighting against the low levels of affordable housing inventory.
- US News & World Report notes the homeownership rate will continue to rebound as Gen Xers transition back into the homeownership market and Millennials enter for the first time. They also suggest the wisest home buyers will employ an attentive real estate agent who will help craft appealing offers on houses for sale, as inventory is low, so competition should be high.
“Queen of Sunset Hills” Real Estate Candace Cantu McGloin
If you are looking for an attentive real estate agent to list your home or help you search for a new one, look no further than Redlands’ Keller Williams’ agent, Candace Cantu McGloin. Known as the Queen of Sunset Hills Real Estate, McGloin is qualified and willing to help home buyers and sellers across Southern California any season of the year. A long-time Redlands resident, she specializes in the cities of Redlands, Highland, Yucaipa, Grand Terrace, and Loma Linda but has done transactions both on the buying and selling side throughout Southern California. To learn more about real estate in Redlands or elsewhere in the Inland Empire, call Candace directly at (951) 201-2443.