Real Estate prices have stabilized in most cities and may even be cooling down for 2019. If you are thinking of buying or selling now may be a great opportunity for home buyers.
According to the National Association of Realtors, home sales have been down in 2018 and forecasting to be down in 2019 as well. A combination of interest rates rising, and an inventory shortage slowed down the market this past spring and summer.
Ralph DiBugnara of Home Qualified believes that this is good news for home buyers. This shift in the market will create a value buy for home buyers. In a less competitive market buyers are much more likely to obtain a house at what it is worth or below its value depending on the demand in that market. Even with rates being up borrowing money is still very cheap, and over the last two years creative financing has become available to make mortgages more affordable
If you are considering selling now would also be a good time to list your property before we see a large reduction in demand which would drive prices down.