The Year of the Slow and Steady Housing Market

January 7, 2019

The Year of the Slow and Steady Housing Market

Written by Elle Tomaszewski, http://www.styelled.com

Last year was filled with bidding wars and swift decisions to buy homes. 2019 will be a much slower and steadier year for home-buying. The main concern in 2019 is affordability. There will be more homes on the market to choose from, so the seller will have to price competitively to in order to sell their home. Buyers will be able to sit and find a deal instead of having to buy in a haste like they did last year.

One of the biggest issues has always been that there aren't enough homes to choose from. In 2017, homes on the market hit an all time low, which meant that if a buyer found a home they loved, they had to act on it fast. That's all about to change. In 2019, the inventory of homes is expected to rise about 10-15%. Still, even with the rise of for sale homes, those homes are expected to be in the mid to high price range, so that will make it more expensive for the first-time homebuyer. 

If you are a first-time homebuyer, you'll have to keep an open mind and consider a townhouse if a single-family home is out of the question. There will also be an increase in manufactured (mobile) homes in 2019, so those always an option as well for the first-time buyer. A townhouse is still an awesome first home. It's less maintenance, less upkeep and more cost-effective.  

In the new year, if you're a seller then it's suggested that you price your home realistically and be ready to reduce the price when necessary. Always be aware of your competition. If you're a buyer, take your time to find the home that's right for you and your budget. 

Source: https://www.floridarealtors.org/NewsAndEvents/article.cfm?id=375518

Other blog entries

Ocala Weekend Fun (07/18/2019)
2019 Home Decor Trends (07/12/2019)
Neighborhood Spotlight: Majestic Oaks (07/12/2019)
Fourth of July Ocala (07/03/2019)
VarietyofWeekendOcalaEvents (06/29/2019)

» Blog archive

Start your home search here!

Share This