How will the real estate market perform in 2019?

I got this title from an article at https://www.ocregister.com/. Everyone has an opinion on what is going to happen in 2019 to the housing market. Will it go up or down maybe even sideways. 

The demand for housing is still high in a lot of areas. The luxury market is not all that good right now, but the median priced homes are still flying off the shelves. I had a home listed that was priced at a $100,000 and sold it 3 times in December. Chase bank was the first buyers mortgage of choose and they could not get the deal done.

Then a cash buyer from California decided they wanted it until their spouse decided they needed to live together. They later came back and wanted to purchase it again after we had accepted another cash offer. The last deal closed on 12/28/18. 

2019 will prove to be more of the same of 2018. I never understand the Feds raising interest rates so quickly, but that has not effected the market a ton. I am always amazed how the Feds look at the economy and want it to slow down. Either way the interest rates are still low and there are a lot of buyers and renters.

Unlike the last home bust mortgages and the economy are stronger and the loans have qualified buyers for them. The key to the last crash was poor credit and to easy access to money. That has all changed.

There are a lot of cash buyers that have learned to use their IRA to purchase real estate. There is a lot of money that is pretty new to the market and that is also effecting inventory. I heard there where literally over a trillion dollars being used....that's a lot.

You also have the hedge funds that are purchasing any home that makes sense. They basically have a spreadsheet they plug the numbers in and bingo they know the answer to that homes purchase price. I think they will be effected the most in 2019 because of home pricing will go up. They will have to adjust their spreadsheets a bit.

Lastly you need to know what areas are thriving and what areas are dumping in major cities. For example in Cleveland Metro I personally watch all the cities around Cleveland and there are a lot of them. The key is knowing which ones to buy in.

Need to know where to purchase a property and why? I'm Brett 216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty Arizona  

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