Housing Outlook 2018, Soaring Home Prices, First-Timer Mortgages, and More Real Estate News

housing outlook 2018It’s all about the upcoming year in this week’s collection of real estate news stories. What do you foresee happening in 2018? Share your comments below!

Watch: Home prices set to soar in 2018

The news for prospective homebuyers in the coming year is as bleak as the winter weather hitting much of the nation: As more and more buyers line up for fewer and fewer homes available, prices are going to keep going up. And up. And up.

(:05) If you’re a seller—great news!

(:09) If you’re a buyer—good luck!

(:17) Home sale prices jumped 7 percent annually in November, according to CoreLogic.

(:29) There is no slowdown in sight.

(:32) The supply of homes continues to shrink.

(:40) A strong economy means demand continues to rise.

(:46) With fewer homes on the market, competition will be tight.

Home prices are set to soar in 2018 from CNBC.

Read: Will new homebuyers be able to get a mortgage in 2018?

For many people, the new year means a whole new set of resolutions—and perhaps aspirations. If becoming a homeowner is on the list of what people home to accomplish in 2018, the question is this: Will they qualify?

The good news is that mortgage approval rates are nearly 90 percent. The not-so-good news is that mortgage rates are expected to rise.

Experts are optimistic, however, that 2018 will still be a good year to become a homeowner. Programs that take into account low down payments between 3 and 10 percent rather than the traditional 20 percent will also help.

Read the full article here.

Read: Housing outlook 2018: 6 predictions from the experts

This time of year, it’s all about predictions—and we’ve got ‘em. This time several experts weigh in—and some of the trends might surprise you.

  1. Home sales will start out slow, then gain momentum as the year goes on.
  2. The inventory crunch that started back in 2016 will just continue to get worse as fewer homes are available.
  3. Prices will continue to go up—but at a slower pace than in the past few years.
  4. It might start making more sense to rent than to buy—especially in expensive markets.
  5. Mortgage rates will stay in the 4 percent range.
  6. Millennials will continue entering the market, but at higher rates than in previous years.

Read the full article here.

Watch: Agrihoods: The newest trend in millennial living

Millennials looking for a simpler way of life are moving to the country in communities that are built around a local farm. These agricultural neighborhoods have been dubbed “agrihoods.”

(:26) Residents are able to enjoy nature’s bounty on a daily basis.

(:46) Residents pay an annual fee to purchase shares of the local farm, and they are able to be connected with the food and with the local farmer.

(:56) The other advantage is that residents are surrounded by nature, which is reported to decrease stress levels.

(1:02) There are now more than 100 agrihoods across the country.

Watch the full video here.

 

 

 

 

 

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