Perrie & Associates

The new year is upon us and with it, we can always expect changes from our resolutions to the real estate market. So what can Realtors expect in the new year? We've rounded up the highlights of the 2019 real estate predictions - Mortgage Rates will Rise  Mortgage rates will likely cause an issue for affordability in 2019. Although rates have been rising throughout the past two years, mortgage rates still remain lower than they were during the recession. According to Aaron Terrazas, director of economic research with Zillow , interest rates "will change in 2019, as the 30-year, fixed rate mortgage reaches 5.8 percent - territory not seen since the dark days of 2008, when rates were racing downward in response to the housing crisis. In 2019, rising rates will compound the effect of still-climbing home values, making homeownership even less affordable." Millennials will Keep Buying  Despite these rising mortgage rates, millennials will still be the largest ge...

2018 has arrived and as we welcome a new year in the real estate industry, it's important to look ahead at what's to come.As the market evolves, agents must be aware of changes to best meet their clients needs. There are no definitive answers to what we can expect from the housing market in 2018, but we've compiled some of the top predictions form market experts, and here's what they're forecasting for the new year: Price Increases Many experts agree that inventory is the biggest factor in the 2018 housing market, and prices are expected to increase as supply remains low going into the new year. As reported in the Washington Post , Nela Richardson, chief economist at Redfin, said "for the third year in a row, the nationwide inventory shortage is likely to continue to hinder sales, and increase prices." Just how much prices are to increase is debatable, however. The National Association of Realtors is predicting a 5.5 percent price increase, w...