3 Winter Real Estate Market Trends to Keep an Eye on
Even though we are barely into fall of 2018 yet, it is already time to start looking forward to the state of the market this winter and what it could bring with it. Usually, colder months mean less activity from buyers and lower prices, but some researchers and investors think that that might not be the case for this upcoming winter. Here are 3 predicted real estate trends for the winter of 2018.
- There will be carry-over from the busy previous seasons – Because there has been a trend lately of too much demand for too little supply, it is safe to say that this will carry over into the normally quiet winter months. House hunters who did not find their ideal home or were outbid in the summer or fall will still be on the lookout this winter, which could bump up sales numbers.
- Interest rates should rise again – Despite the fact that home prices have been high enough to border on unaffordable, we can expect interest rates to rise again. They are still low relative to what interest rates have been in the past, and the increase is probably not going to be significant. Nevertheless, home expenses could grow even more in the upcoming months.
- Prices will continue to rise – The lack of available inventory is not catching up to the demand for houses, and the fear that they will not be able to find a better option is also causing people who would sell their homes to stay put. This will all add up to prices increasing at least through the winter, as many development projects that are underway will not be finished by the winter.