This article is about selling home in 2019 and what obstacles sellers can face. The housing market is booming. It will continue to be a hot housing market. There is no sign of any housing market correction for the next several years.
In this article, we will cover the following topics:
- The benefits of homeowners during a booming housing market
- Will the housing market continue to thrive?
- The demand of homebuyers in a seller’s market
The experts at Gustan Cho Associates expect to see lower mortgage rates and a continuous thriving booming housing market for the next several years.
The Booming Housing Market: A Sellers Market
Will selling home in 2019 be a cakewalk like it has been the previous years Home prices have been rising year after year since 2012. The Federal Housing Finance Agency (FHFA) has increased conventional loan limits to $484,350 for 2019. FHFA has increased conforming loan limits for the past three years in a row due to rising home prices. HUD, the parent of FHA, followed FHFA and increased FHA Loan Limits to $314,827 for 2019.
HUD Follows FHFA Increasing FHA Loan Limits
HUD increased FHA Loan Limits for the past three years in a row due to rising home prices. Some home sellers have been delaying selling home in 2019 to see if the housing market will rise again. The housing market started out hot in 2019 but tapered off the past few weeks. Selling a home in 2019 bring better results as it did in 2018? There is no doubt homeowners get top dollar selling homes in 2019? Do data suggest there will not be a market correction?
Bullish Housing Market
Home prices are expected to continue to increase like it has the past 5 years with no sign of correction? Will the higher mortgage rates hurt home buyers in 2019? We will cover selling home in 2019 on this blog.
Sellers Selling Home In 2019 Should Expect Slower Home Price Growth Versus 2018
Home prices have been appreciating double digits in many parts of the country over the past three years.
What Higher Prices Mean For Homeowners Selling Home In 2019
High home prices are great news for homeowners Selling Home In 2019. Means more money in the home seller’s pocket. The good news for sellers who are planning Selling Home In 2019 is that real estate prices are still expected to go up. However, it will probably not go up like it has the past few years.
Housing Market Correction
There is no sign of a housing market correction despite mortgage rates being at the highest level since the 2008 Real Estate Market Crash. There are a lot of homebuyers who are priced out of the housing purchase market due to high home prices.
What Expert Veteran Realtors Say
How High Home Prices Affect Home Buyers
Homebuyers need to make sure to answer the most important first-time homebuyer question on how much home can I afford?
How much home can I afford is different than how much home do I qualify for. Remember that lenders do not take into account personal expenses when qualifying borrowers for mortgages. Expenses such as utilities, educational expenses, entertainment, child and elderly care, medical, insurance expenses, and other expenses. You do not want to be house-poor where all of your income goes towards your home expenses and be left with little to no residual income. Do not pull the trigger on a home purchase that does not meet your budget.