WHAT RECESSION: Experts Predict a Strong Housing Market for the Rest of 2019

Here’s what some of the experts have to say:

Ralph McLaughlin, Deputy Chief Economist for CoreLogic

“We see the cooldown flattening or even reversing course in the coming months and expect the housing market to continue coming into balance. In the meantime, buyers are likely claiming some ground from what has been seller’s territory over the past few years. If mortgage rates stay low, wages continue to grow, and inventory picks up, we can expect the U.S. housing market to further stabilize throughout the remainder of the year.”

Lawrence Yun, Chief Economist at NAR

“We expect the second half of year will be notably better than the first half in terms of home sales, mainly because of lower mortgage rates.”

Freddie Mac

“The drop in mortgage rates continues to stimulate the real estate market and the economy. Home purchase demand is up five percent from a year ago and has noticeably strengthened since the early summer months…The benefit of lower mortgage rates is not only shoring up home sales, but also providing support to homeowner balance sheets via higher monthly cash flow and steadily rising home equity.”

Bottom Line
The housing market will be strong for the rest of 2019. If you’d like to know more about our specific market, let’s get together to discuss what’s happening in our area

Are You Really Ready To Sell Your Home?

When you put your home on the market, you may think you're really ready to sell, but if you're throwing roadblocks in front of buyers, you're really not ready at all.

When you're not really ready to sell, you tend to be unrealistic and say things to your friends, family and your real estate agent like this:

"I can sell it myself."

"My home is worth more than that."

"The buyer can fix things themselves."

"Let's price it higher, and see what happens."

Let's address these one at a time. About 15% of homes sold by their owners are successful. Sure you can sell it yourself, but your home is competing with listed properties that are effectively marketed and represented by real estate professionals.   Those that list with a real estate professional also get a 14% higher sales price on average then selling it by themselves.

You may believe your home should be money in the bank. It should be worth more than you paid for it, it should never go down in value, and it should provide you with enough equity so you can trade up to another home, put your kids through college, retire, or meet some other financial goal.

There are times when you can really make out selling your home, and times when you won't meet your goals. If you stay in your home long enough to build equity (at least 4 years or more), don't take out equity loans or lines of credit, and you keep your home in good repair, you're likely to make some money when you sell.

Realistically, your home is only worth what a qualified buyer will pay for it today, not what it was worth yesterday or what it will be worth tomorrow.

Last, most buyers don't want to fix anything, so if your home needs work, you're cutting down on the number of buyers who will make offers on your home. That leaves you with only the buyers who want a bargain or a fixer-upper, which means you won't get top dollar for your home.

If you're serious about selling your home, you'll hire a professional to advise you and help you. A real estate professional will show you the current numbers and comparables and explain current market conditions and how they will impact your pricing and marketing strategies.

You're ready to sell if you're prepared to listen to your real estate professional and follow his or her advice. You're ready to sell if you're willing to do the hard work to make your home appeal strongly to buyers.

You're ready to sell if your price your home to current market conditions, not what you believe you deserve.