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Trends in the Housing Market 2018

Posted Thursday, July 5, 2018

As 2018 progresses, the housing market is undergoing numerous changes. While experts try to decide which direction it will ultimately go this year, buyers and sellers are finding themselves with a number of options. From finding properties priced lower than anticipated in some parts of the country to some areas lacking a solid inventory of available housing, there are many trends that should be watched. If you've decided it's time to sell my house quickly because of relocation, inheritance, divorce, illness, or other situation, here are some 2018 trends that may influence how you choose to proceed. 

A Fast Pace 
While initially the housing market was a bit slow in early 2018, the last half of the year will be anything but that. With warm weather, first-time home buyers, as well as renters, are expected to be ready, willing, and able to purchase the home they've been wanting for years. Between increases in wage growth and the new federal government tax plan, buyers will be eager to spend money, which is good news for home sellers. 

Lack of Inventory 
If you've concluded it's time to sell my house, you're doing so at a great time. Around the country, 2018 continues to see a smaller number of quality homes available for sale. However, as optimism about the nation's economy begins to grow, more people who may have been reluctant to buy or sell homes will finally get into the marketplace. Because of this, there's no better time than now to sell your house, especially if you are doing so due to divorce, relocation, or other event, since it's likely buyers will be eager to pay your price. 

A Place to Call Home 
While for years the trend in the U.S. housing market has navigated toward renting rather than buying, that is changing in 2018. As renters chose to wait it out until the economy improved a bit more, they have saved their money and are looking for a place to call home. And with this occurring across the country, you'll be in a much better position than many other home sellers. By being able to offer your home at a price that will likely beat many other similar properties, chances are your home will in fact sell quickly. 

Slow to enter the housing market, both single and married Millennials are now eagerly looking for new homes. According to industry experts, over 62 percent of Millennials say they are currently in the market for a new home, which should be music to the ears of those wanting to sell their properties quickly. With plenty of money to spend, there's no doubt millennials may in fact be your best real estate customers.