Real estate is one of the ever-popular industries for different reasons. Before you invest in the real estate, you should know the industry trends. You may seek the help of a reliable real estate agent, who can do the real estate work on behalf of you. The Milton Real Estate Agents – The Kormendy Trott Team can help you in meeting your real estate needs. You can visit their website for more details. If you wish to do your real estate search on your own, you may just read this review. In this article, we will look into some of the upcoming trends in the real estate industry.
The first good news is that the shortage of homes for sale is going to ease in the current year. In the last year, many would-be buyers were frustrated as they were unable to find perfect homes that meet their needs. The increase in the inventory will reduce the price of the homes by up to 3.2%. However, this trend applies to bigger homes and not for starter homes. Those, who are planning to buy a starter home, should wait for a long time.
The housing market is going to be challenging for the millennial in 2018. However, there are some good chances in sight for the millennial. Millennials make more money by choosing mortgages on homes at different prices.
U.S. people tend to get settled in their life by 20s and 30s, and hence there are more chances for people to buy homes. This could result in 43% of the people to opt mortgage by the last quarter of 2018. The previous year it was 40%. First-time home buyers would be a major player in the housing market. It is not a good idea to wait further because the mortgage rates are expected to attain 5% due to reasons like inflation, stronger economic growth, etc.
The home sales are expected to see significant growth in the southern part of the city. The expected growth rate is 6% or higher than the 2.5% in the previous year. The areas south have been attracting lots of corporations and big companies and individuals, leading to better economic growth and sales of homes.
There is a new tax reform to be imposed, which might affect the sales. Mostly this proposed tax reform would affect upper-class people as the reform impacts the high priced properties that are in coastal areas.It is always better to read the real estate magazines regularly before taking any decision. As there is a tremendous amount of money going to be involved in real estate investment, you should make a decision wisely and thoughtfully.
To ease the complications associated with home search and real estate transactions, you may seek the help of the real estate agent. For real estate agents, finding the right home or buyer is the bread and butter. They continuously specialize in this area to offer a useful service. You can get to the popular and reliable real estate agents in your city by browsing the Internet. In fact, many websites provide honest reviews about the real estate agents.