Recent data for 2018 thus far shows both home buyers and sellers continue to have plenty of confidence in the housing market. Also, it’s clear that their confidence remains steady in spite of some recent shifts farther away from the ideals. What are those ideals? Well, for a buyer, they include low mortgage interest rates. They include plenty of inventory. As we know, interest rates have edged up. And, a housing inventory crunch grips many local markets. As a result, while confidence in 2018 housing holds steady, there’s plenty of reason to keep an eye on trends as they unfold later on.
Confidence in 2018 Housing Holds Steady Even As Some Positives Slip
It’s true that interest rates went up from record lows. They went up in advanced 1st quarter 2018. Also, they’ve gone up again in 2nd quarter. In fact, that’s a downward trend for both buyers and sellers, since it can put a damper on willingness to buy. Although, clearly it hasn’t swayed confidence in the housing market yet. In fact, it indicates that rates will likely go up again, and now is the best time to jump in!
Here’s an interesting point in fact. Confidence in 2018 housing holds steady, as fewer consumers fear losing their jobs and more expect higher wage earning. This confidence should continue in 2018. Serious buyers and sellers should take note.
Of course, sellers enjoy some edge with less housing competition. At the same time, buyers enjoy a similar edge. They can enlist a seasoned real estate expert to ensure they purchase the right home at the right price. That’s how you get it done in a tricky, moving market. In fact, both home sellers and buyers benefit hugely, in time and cost savings, from working with an expert in their local market.
Other factors may arise to create more confidence in the housing market. These factors include incentives introduced to ramp up new home building. In fact, that may indeed be waiting in the wings. It should be more reason for sellers to get the edge now, when their home stands out most.
Are you a 2018 home buyer or seller for San Mateo County CA homes for sale? Want a real edge on all your prospects? Contact 5 Star Real Estate Agent, Carmen Miranda. She’s got your win win waiting in the wings.