2019 Real Estate Market: Everything You Need to Know About the latest Trends

The year 2018 had seen several ups and downs in the real estate market. At the beginning of the year it was seen that the price of the properties and the houses were are extremely high. This was the time when the seller of the real estate had an upper hand over the buyers. In the last eight month of 2018, the price skyrocketed to a pick which was not achieved in the last 8 years. With the passage of time, it was seen that there was a gradual change in the real estate market where there were fewer advantages to the buyers. One of the major questions that arise out of the analysis is whether this trend will continue to follow or not.

According to the experts during the time when the real estate prices increase the mortgage rate was comparatively low. Even during the period of recession, the mortgage rate did not increase. This indicates the future trend of the real estate market.

There are several changes to be the witness in the real estate market in the year 2019. In the last 30 years the fixed mortgage rate reached 5.8%. In the year 2019, it will be seen that the mortgage rate will increase with the increase of the millennial demand. The rising rate of the real estate will keep the home buyers away from buying new homes and the potential buyers will be out of the market. This indicates a crisis that might be seen in the real estate market in the year 2019.

The millennial are considered to be the potential home buyers. The increase in the number of millennials in the year 2019 is one of the indications to the fact that the demand for real estate will considerably stable. In the year 2019 the major part of the millennials will be turning 29 which is the age where individuals plan out new settlements and new homes. This is one of the indications to the fact that the real estate will have a potential market in the current year.

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The year 2019 will have the largest segments of the millennials who will contribute to the real estate market. This segment of the population will contribute to the 45% of the mortgage, 17% of boomers and 37% of the Gen Xers.

The experts also emphasis on the fact that the first time home buyers will struggle to buy new homes however the move-up buyers will have various options. It is also predicted that in the year 2019 the power of the home buyers will decrease at a considerable rate as the home buyers will prefer to buy homes on a home loan basis with the process of monthly payments. However, it is also being stated that this process of paying instalments will be an advantage to the buyers because of the fact that fix amount of money being provided towards home buying will contribute to less borrowing of money.

The overall prediction of the number of buyers in the market highlights the fact that there will be comparatively less number of buyers in the market who will buy new homes. The decrease in the number of buyers in the market will lead to a different response of the sellers. This is an indication of the fact that at every price point number of buyers of the real estate will be comparatively low and this will slow down the sales of real estate.

It is predicted that the drop in the sales of the home will be approximately 2% in the year 2019. The first time home buyers will have various advantages in the year 2019. These advantages will be available to the first time home buyers due to the fact that they will have several options in the market as the demands of a home will be comparatively lesser.

It can be stated that the overall demand for homes in the year 2019 will decrease due to the fact that there will be a scarcity of buyers in the current year. However, the millennials will continue to buy new homes which is an indication to the fact that the majority of the sales in the real estate market will orient from the millennials.