We are often asked what is going on in the housing market. Although no one has a crystal ball, here are a few things we believe will take place over the next few months…
1. Interest rates are expected to rise.
2. Home ownership should increase, despite the rise in interest rates.
3. Home values will continue to appreciate, but at a slightly lower rate than what we have recently seen.
4. Existing home sales may decrease, although just slightly.
5. Lastly, we anticipate that new home construction will continue to increase.
Fun Fact: Millennials will soon hold almost half of the mortgages as they start and grow their families.