Last year began with home sales skyrocketing across the East End, but it soon became clear that 2018 would be mostly a dud for residential real estate.
DC Fawcett Virtual Wholesaling — The Real Estate Market Predictions 2018 to 2020
The predictions on real estate market by professionals and savvy investors concluded that the home sales will be excellent till 2020 and beyond. The home prices will be historically high for next few years. The sellers are on favorable side as it will be their market.DC Fawcett Virtual Wholesaling
The buyers who are planning to invest on a real estate property in next few years should start saving the funds for the huge down payment. The allocations should be large so as to meet the requirements.
DC Fawcett has explained in detail about the market predictions, an overview of 2017 home trends in this article.
2018 and Futuristic Predictions:
- The unemployment rates will be low and the market will have rise throughout the year 2018. The trends look positive. The economy plays a major role in deciding the market scenario.
- Economy of the nation is the lifeline of the real estate market prediction. The analysts have said that there will be potential growth in the economy.
The property prices inflation will be high.
- The GDP and nation median income are some influencing factors that will have an effect economy of the nation. If the economy faces a downward trend, the scenario will change.
- The total home sales are calculated to find the median home sales. Every month the number of homes sold is compared to previous year’s sales to know whether there is an increase or decrease in home sales.
- When the number of home buyers is more, the supply and demand also increases as these 2 factors are proportional to home sales. The 2018 forecast seems to be favorable as there are new ways where these investors can qualify for a mortgage loan.
- Federal home loans are offering loans with less interest for first-time home buyers and government is taking some steps to introduce new schemes for financially backward people.
- The restrictions are getting limited which makes the buyers feel more comfortable and flexible in buying homes. There is an upward trend in number of single-family home sales.
- The already unaffordable cities remain to be in same condition and there will be chances of rental prices going up. The fall season may turn the heat on in real estate. The forecast seems to be highly optimistic for next 5 years as market will be in upward trend.
The rate of interest:
We witnessed that the mortgage rates will tend to increase, most of the sellers depend on mortgage lenders to avail loans. So when the rates are increased, it will have an immediate effect on the home buyers.
Developing new real estate ventures is not important; the affordability is an important factor to be looked upon. When the homes are overpriced, there is no one going to invest on your property.
Credit score also determines the eligibility for loan approval. If the score is low, there are various ways to afford a loan which you can browse in DC Fawcett virtual real estate investing club.
What can people expect in 2018?
The following trends can be witnessed by the investors in the forthcoming years.
- Inflation in home prices
- Millennials will purchase more homes, probability of single –family homes getting sold is high
- Investors may look for distressed properties to earn quick profits
- House- flipping will be continued to yield high returns.
We have seen some extremely highs and lows in the market trends. The California City has become the hottest selling market, the statistical reports confirms it. The home prices in San Francisco have gone up.
- The number of tenants has gone up historically high comparatively.
- The home ownership is less preferable as rates are too pricey
- The supply is less than the demand
- The number of real estate scams has gone up as there are many scammers entering the market to fool the first time home-buyers.
From this review, we learn that it is going to be strong seller’s market as there is going to be tough competition among buyers in purchasing a property.
Dc Fawcett, the real estate expert, and also the founder of the Virtual Real Estate Investing Club, is well-equipped in the real estate scenario and assists people develop their real estate investing business.