While much in a new year can seem uncertain, one thing is clear: there are a lot of opportunities in the real estate market in 2019! If you tried to buy a home or sell your home in 2018, you probably noticed a few difficult trends: a very competitive market, few homes available, and rising prices. Some of those will remain the same in 2019, and some will change. We also expect some new trends to appear.
Competitive Home Buying Market
Unfortunately for you homebuyers out there, the market will most likely remain very competitive. Driven by some of our other trends (looking at you rising prices and lack of available homes), the homebuying market in 2019 will still have many buyers for each available property. The good news? Things are slowing down. We predict 2019 will be the year that the housing market begins correcting back to a ‘normal’ number of available listings.
Low Number of Available Homes
As we mentioned, the number of available homes for sale in 2019 is likely still going to be low compared to the number of potential home buyers. The good news? The new home building industry is continuing to see growth in 2019. Brand new properties available in the market could help relieve strain on the crowded buying pool.
Home Values Are Still Rising – Just Not as Fast
In 2019, we will continue to see home values at record level highs. However, we expect to see the rate of appreciation in home values slow down or even stay level this year. What does that mean? More people may be able to realize their homebuying dreams as their ideal properties drop to or stay in their price range.
Design Trends Are Shifting
2018 was the year of bright, light and airy home design. Modern farmhouse style dominated – with sellers and buyers alike preferring white, cream, and gray color schemes. In 2019, we’re living in color! More and more homeowners are opting for color in their paint and décor choices. Also contradictory to the 2018 trends, patterns are making a comeback in 2019. And finally, in 2019, comfort is key. Homeowners are looking toward soft edges, plush fabrics and cushioned furniture.
Whether the market remains as it was in 2018, or shifts dramatically, one thing is certain. A Berkshire Hathaway REALTOR is the best to help you navigate buying or selling in 2019. Get in touch with us today!