2019 Real Estate Forecast:

Great article I found at https://www.forbes.com/ and I found very informative and interesting. Let's look at a few of tid bits of this article.

""The housing market in 2019 will be characterized by continued rising mortgage rates and surging millennial demand. Rising rates, by making housing less affordable, will likely deter certain potential homebuyers from the market. On the other hand, the largest cohort of millennials will be turning 29 next year, entering peak household formation and home-buying age, and contributing to the increase in first-time buyer demand.” — Odeta Kushi, senior economist for First American"

Interest rates might rise due to the great economy and everybody seems to be working. The other factor is that consumer confidence is high and that means people spend money. They fell that the future looks great and they will prosper in the future. 

"“The wave of first-time home buyer demand will be met by somewhat higher inventory levels than in 2018. However, while the days of multiple offers and bidding wars may be history in some markets where inventory is increasing, inventory will likely still remain tight nationally through 2019." — Kushi"

Inventory is extremely tight and a home needs to be perfect to get top prices in some areas. That does not mean you cannot get great deals, it means that you can pay less for homes that need work. That is what I specialize in and do daily for my clients. Just this month we have put 8 homes in escrow for our clients. We have the rehab quoted and they know their cost of making the home like they want it. 

There are many homes that need have been on the market and need to be sold. There are a lot less of them, but they are there.

We specialize in finding our clients those properties. 

"“As higher rates limit the number of homes that potential buyers can afford, some would-be buyers will be too financially stretched to buy and will continue renting. As a result, recent (and very slight) drops in rent will reverse and turn positive again. The shift will be muted, however, by continued steady investment in apartment construction, which will prevent rent growth from shooting too far above income growth.” — Terrazas"

There are a lot of people that are strapped with student loans that need to be paid off. I'm talking 6 figure loans, and the graduate has to pay that loan off before they can get a mortgage. These potential tenants require nice homes to live in until they can purchase their own home. 

That creates a nice rental market that gets great rents and very quality tenants for quality homes.

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