October 07, 2019 at 12:16pm | Rima Rafeh

What Are the Experts Saying About the Housing Market for 2019?

The year is coming to a close, the temperatures are dropping and so are the interest rates for 2019. There is a whisper in the home buying community about whether or not these interest rates are here to stay for the remainder of the year. At this time we look to the experts for answers.

What do the experts say?
 
According to the Chief Economic Deputy of Corelogic, Ralph McLaughlin states that: 
“We see the cooldown flattening or even reversing course in the coming months and expect the housing market to continue coming into balance. In the meantime, buyers are likely claiming some ground from what has been the seller’s territory over the past few years. If mortgage rates stay low, wages continue to grow, and inventory picks up, we can expect the U.S. housing market to further stabilize throughout the remainder of the year.”  
Meaning that the rest of the year will be a better market for buyers. The rising wages and the decrease in mortgage rates will further stabilize the housing market. 


Lawrence Yun the Chief Economist of NAR also explains that:
“We expect the second half of the year will be notably better than the first half in terms of home sales, mainly because of lower mortgage rates.”


Freddie Mac elaborates that “The drop in mortgage rates continues to stimulate the real estate market and the economy.” More buyers equate to more people selling and at a faster rate. “The drop in mortgage rates continues to stimulate the real estate market and the economy.” 


How does this affect you? The housing market will be strong for the remainder of the year. Let’s keep in touch and chat about how you can take advantage of this season’s market. 
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