At the Powerhouse Team, we not only want to give you expert advice on where the market has been and where it is right now, but also where it is going. The National Association of Realtors recently published December’s update on the U.S. Economic Outlook and we thought we would share it with you here and give you our thoughts on the matter.
Much has been talked about a stabilizing economy going into the New Year. The forecast for consumer confidence is dropping and overall GDP will decrease. In real estate, we find these forecasts to be helpful for would-be buyers that may have waited out the strong seller’s market over the past year.
The forecast for existing home prices and new home prices are both expected to fall in the coming year. This could create many opportunities for buyers to find a deal that was not on the market during 2018.
Take a look for yourself and let us know what your thoughts and concerns are.