Local information about Breckenridge and Summit county real estate and information about what's going on in the County.
Saturday, January 12, 2019
What does the 2019 housing market look like?
A year ago, several experts predictedthe new tax law would cause a slowdown in the housing market. So far, the limitations on mortgage-interest and property-tax deductions haven’t had a negative impact. Instead,rising mortgage ratesandhome pricesare doing more to put a damper on the market.
It is too soon to tell whether the recent decline is a temporary lull or a major pullback.
In their forecasts for 2019, real estate experts anticipate the housing market slowing down, but not stalling, with prices and mortgage rates moderating.
“If mortgage rates trend sideways next year, as we anticipate, and home price appreciation continues to moderate, improving affordability should breathe some life into the housing market,” said Doug G. Duncan, chief economist at Fannie Mae.
The National Association of Realtors expects home sales to flatten and home prices to continue to increase, though at a slower pace.