Lisa Eagan

Leagan Realty, Scottsdale Arizona

  • About Us
    • Lisa Eagan
    • Gary Eagan
  • Home Search
  • Resources
    • Investment Properties
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
  • Blog
  • Reviews
    • Reviews
    • Birdeye Reviews
  • Contact Us

What Are The Housing Market Projections For 3rd Qtr 2018 — And Beyond?

September 12, 2018 by Lisa Eagan

What Are The Housing Market Projections For 3rd Qtr 2018 -- And BeyondThe National Association of Realtors (NAR), in its ongoing analysis of home sales statistics, believes that prices will continue to rise during the third quarter, but that uncertainty over elections could be a factor during the second half of the year.

However, NAR’s report noted that in July, a typically lackluster month, home prices rose by about nine percent, and days on market decreased significantly, perhaps signaling a strong start for the third quarter.

National statistics don’t necessarily tell the whole story, however. In addition, what will happen in the fourth quarter is, at this point, a bit more difficult to predict. Assessments about how home prices and real estate will end the year differ from one part of the country to another.

Looking Ahead

In 381 of 500 markets that were tracked, homes stayed on the market for fewer days in July 2018 than the median time on market the previous year, even in the highest price markets, typically a sign that demand is still outpacing supply.

Dallas-Fort Worth area mortgage lenders report a noticeable slowdown over the past several months, and the inventory of homes on the market has grown. But another Texas town, Midland, ranked as the nation’s hottest market for the second month in a row in July, based on continued high demand and the speed at which homes have been selling.

The list of fast-moving markets, compiled by by Realtor.com, also places Columbus, Ohio, Boston and Fort Wayne, Ind., at the top; Dallas-Fort Worth, interestingly, ranked 17th of 20 hot markets in the Realtor.com survey.

Potential Benefits

Some housing analysts note that even slight slowdowns in select markets, coupled with rising mortgage rates, may signal a wider downturn in sales nationally, adding that it is not entirely unexpected. Many real estate and mortgage professionals, however, view any potential “adjustment” as a good thing, with the explanation that the double-digit appreciation is unsustainable over the long term.

Prevailing wisdom is to take a wait and see approach leading up to midterm elections. Pollsters and pundits have widely variant opinions and, to date, trends are not sufficiently clear. In addition, the housing industry is seemingly healthy at this point and, barring unexpected major interest rate increases, demand for housing is likely to remain strong.

As one researcher at Texas A&M University explains, even a modest slowdown will likely only bring the real estate market down to 2016 levels and, in retrospect, that was a very good year! Other analysts are more positive, saying that an expected slowdown is positive and will prevent “a new bubble.”

As always, contact your trusted real estate and mortgage professionals to discuss the current situation in your local market.

Lisa Eagan

Lisa Eagan

Shop the “Real Time MLS 24/7” www.LeaganRealty.com Call/Text at 480-766-2115 #scottsdalerealestate #scottsdalehomesforsale #phoenixrealestate #phoenixhomesforsale 

Filed Under: Real Estate Tagged With: Housing Trends, Market Projections, Real Estate

Lisa & Gary Eagan
Search for Homes

How can we help?

Connect With Us

Article Categories

December 2019
M T W T F S S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031  

Recent News

  • Tips On How To Get The Home You Want In A ‘Seller’s Market’
  • What’s Ahead For Mortgage Rates This Week – December 9th, 2019
  • How Much Of A Down Payment Should I Make On My Home?
  • The Risks And The Rewards Of Buying Homes In An ‘As-Is’ Condition

Leagan Realty

8776 E Shea Blvd #106-214
Scottsdale, AZ 85260

Phone: 480.766.2115
Fax: 888.422.9951

Email: lisaeagan@leaganrealty.com

Copyright © 2019 · Powered by MySMARTblog