Market Outlook For The Remainder Of 2019

Dated: 09/03/2019

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We are half way through 2019 already! Wondering what the market predictions are for the rest of the year?With the recent decline in interest rates along with home prices and wage appreciation the folks at Keeping Current Matters decided to ask the experts and here is what they are saying... 

Ralph McLaughlin, Deputy Chief Economist for CoreLogic:  “We see the cool down 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 National Association of Realtors:  “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.” 

So there you have it, the housing market will be strong for the rest of 2019. If you’d like to know more about the Prescott market, give us a call and find out what’s happening in our area. 

The Stephanie Woods Team Better Homes and Garden Bloomtree Realty (928) 237-4435.

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