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Photo credit: Getty
Getty
If you are watching the housing market recently, you know that buyers have been tough. Rapid appreciation of the value of housing & nbsp; and the virtual stagnation of inventories have created very competitive housing markets across the country, and newcomers are particularly affected. High rents & nbsp; badociated with the impossibility of leveraging the sale of an existing home for a down payment, have left many potential buyers on the side. However, the new data from RealEstate.com& nbsp; suggests that there could be an influence in favor of buyers sooner than expected.
according to RealEstate.comReport on the entry-level market, the real estate market is slowing down nationwide. The average value of the base house, now $ 130,000, increased only 9.2% from the previous year. Although this may seem like a big jump, it actually slowed down from the 12.5% increase recorded in the previous year's core home values. .
In addition to a slower appreciation of the value of homes, buyers must also expect an increase in their inventories. The report found that basic stocks rose 4.1% this year. Prior to this increase, the number of basic units for sale had decreased each year over the last four years.
On their findings, & nbsp;RealEstate.com& nbsp; Managing Director Justin LaJoie said:
Potential buyers who have tested the waters in recent years should have an easier life now, which should be very good news for anyone who has made an offer but who has lost their bid for a home. First-time buyers can give themselves an extra boost by being knowledgeable and prepared buyers. And the work they do – contacting more agents, doing more research and visiting open days – is expected to bear fruit this year.
First time buyers, in particular, should do their best to stay abad of market trends like these. If these trends are starting to affect your area, 2019 may be the time to buy.
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If you are watching the housing market recently, you know that buyers have been tough. The rapid appreciation of home values and the virtual stagnation of inventories have created very competitive housing markets across the country, and newcomers are particularly affected. High rents, combined with the inability to leverage the sale of an existing home for a down payment, have left many potential buyers on the sideline. However, new data from RealEstate.com suggest that there could be an influence in favor of buyers sooner than expected.
According to the report on entry-level markets of RealEstate.com, housing markets are slowing down nationally. The average value of the base house, now $ 130,000, increased only 9.2% over the previous year. While this may seem like a leap forward, it has actually slowed down from the 12.5% increase in base housing values from the previous year. Their data also showed that slower growth of this type had occurred in 42 of the 50 largest metros in the United States.
In addition to a slower appreciation of the value of homes, buyers must also expect an increase in their inventories. The report found that basic stocks rose 4.1% this year. Prior to this increase, the number of basic units for sale had decreased each year over the last four years.
Justin LaJoie, Managing Director of RealEstate.com, said:
Potential buyers who have tested the waters in recent years should have an easier life now, which should be very good news for anyone who has made an offer but who has lost their bid for a home. First-time buyers can give themselves an extra boost by being knowledgeable and prepared buyers. And the work they do – contacting more agents, doing more research and visiting open days – is expected to bear fruit this year.
First time buyers, in particular, should do their best to stay abad of market trends like these. If these trends are starting to affect your area, 2019 may be the time to buy.
