Decreasing Home Buying
In actuality, having a decrease in the prices could end up being an overall good thing. Tendayi Kapfidze from the Lending Tree states that for many home buyers there is a monthly payment to be met. As the rates start to rise, the monthly payment could also start to mean less borrowing for loans, as well as the overall buying power, decreasing by 10% since last year. The fewer amount of buyers for each price point, there is also the appropriate slowdown in the market’s sales, this also allows for more easier means of price momentum.
Dropping of Overall Home Sales
Ruben Gonzalez at Keller Williams believes that there is much to anticipate a 2% decrease in the home sales of 2019. It is also expected that there is going to be a much slower year in terms of buying as the buyers are going to continue struggling and fight through the high mortgage rates.
The inventory trouble will ease down a little, but not by what many want it to be. Kushi foes on to state that the demand for many first-time buyers will be in higher levels than what the market presented them back in 2018. Despite this, the inventory will still remain as tight as it was on a national level throughout the rest of 2019.
Rana Khanjani, MBA
San Fernando Valley Iranian-American Real Estate Agent
Providing Services in English and Farsi
Address: 22020 Clarendon St. 200, Woodland Hills, CA 91367