Hale too comments on the matter. She claims that in many housing markets, the number of homes that are placed on the market that are newly constructed has increased despite a slow pace in sales. However, even if the sales were slowed down, the inventory can lead to an increase won’t be as effective in terms of more widespread gains and sales in 2019. This means there won’t be much of an improvement for many housing markets.
Home Price Growth Slows Down
Gonzales emphasizes that currently in 2019, the home price growth will be around 3%. The reason as to why is mostly due to the assumptions that the previous year did when it come to their inventory levels.
There are various claims to the notion that there will be less competition on the rise for 2019, but it won’t help first-time buyers. Hale claims that for the buyers that tend to stay in the market because they’re able to, there will be less competition because of an increased in urgency/necessity to close the deal before more options are thrown into the table. For the most part, there is a claim that there will also be struggles in the market when it comes to the needs, wants, and the budgets the buyers are looking for as opposed to what 2018 offered. Even though the homes for sale in the market place were increasing, the inventory was focusing more towards mid-to-higher end price tiers than those of entry level.
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