Archive: March 2019
The 2019 housing market will see modest inventory gains, but with mortgage rates expected to hit 5.5 percent by the end of the year, monthly mortgage payments will rise 8 percent putting home ownership more out of reach especially for younger Gen-Z, Millennial, and other first-time home buyers. Upscale homes in high-growth markets, however, will provide more opportunities for buyers.
- Home price growth will continue to slow, with a forecasted increase of 2.2 percent
- Inventory increases will remain moderate with less than a 7 percent increase
- High-priced markets will buck the trend, with double-digit inventory gains
- Millennials will account for 45 percent of mortgages in 2019 vs. 17 percent for Boomers
- New tax plan will be good for renters, mixed for homeowners