Experts Predict a Strong Housing Market. Yes, Really.

Experts Predict a Strong Housing Market for the Rest of 2019 | MyKCM

We’re in the back half of the year, and with a decline in interest
rates as well as home price and wage appreciation, many are wondering
what the predictions are for the remainder of 2019.

Here’s what some of the experts have to say:

Ralph McLaughlin, Deputy Chief Economist for CoreLogic

“We see the
cooldown flattening or even reversing course in the coming months and
expect the housing market to continue coming into balance. In the
meantime, buyers are likely claiming some ground from what has been
seller’s territory over the past few years. If mortgage rates stay low,
wages continue to grow, and inventory picks up, we can expect the U.S.
housing market to further stabilize throughout the remainder of the
year.”

Lawrence Yun, Chief Economist at NAR

“We expect the
second half of year will be notably better than the first half in terms
of home sales, mainly because of lower mortgage rates.”

Freddie Mac

“The drop in
mortgage rates continues to stimulate the real estate market and the
economy. Home purchase demand is up five percent from a year ago and has
noticeably strengthened since the early summer months…The benefit of
lower mortgage rates is not only shoring up home sales, but also
providing support to homeowner balance sheets via higher monthly cash
flow and steadily rising home equity.”

Bottom Line

The housing market will be strong for the rest of 2019. If you’d like
to know more about our specific market, let’s get together to discuss
what’s happening in our area.