Realtor.com recently revealed their take on the real estate market in 2018, and after three years of a shortage of homes for sale they are suggesting a light at the end of the tunnel.
Homes for sale predicted to increase
According to Danielle Hale, chief economist for realtor.com “The majority of the year should be challenging for most buyers, but we do expect growth in inventory starting in the fall.” If the available homes for sale increase as predicted it will be the first gain in inventory since 2015.
Here come the millennials!
As Millennials start to see their income grow and they turn toward settling down and starting a family. By the end of 2018 it is estimated that they could make up 43% of home buyers in the U.S. That would be gain of 3% over the estimated 40% in 2017
In short, a more significant share of the market will more than likely be comprised of first time home buyers in the latter part of 2018 as the supply of homes for sale increase..
What’s the bottom line?
Overall, based on the report the real estate market in 2018 could see quite a substantial shift in housing inventory and new home buyers.
Are you looking to buy a home in Prescott in 2018?
At Kathleen Yamauchi Group Real Estate we have over 100 years of combined real estate experience. Combine that with our watchful eyes continually on the real estate market and we truly understand this unique marketplace better than most.
Our staff of expertly trained negotiators is always working on your behalf. Whether you are looking for a million dollar Prescott Arizona horse property or your first starter home, your goals and needs are our first and only priorities.
Please feel free to look through our current homes and land for sale, but remember, for us to best serve your needs; we must learn what those needs are. Once we understand your real estate goals, we will move mountains to help you achieve them.
Contact Kathleen Yamauchi Group Real Estate or call (928)771-1111 for a new home buying experience in Prescott.