Industry News News Real Estate Trends

What will the 2019 housing market bring? Experts weigh in.

Photo by Blake Wheeler on Unsplash

Washington Post | Kathy Orton

A year ago, several experts predicted the 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 rates and home prices are doing more to put a damper on the market.

Economic uncertainty brought on by global trade tensions, stock market volatility and the government shutdown also isn’t helping. In this environment, potential home buyers can be reluctant to make a large purchase such as a house. The last sustained government shutdown in 2013 saw a slump in home sales.

It is too soon to tell whether the recent decline is a temporary lull or a major pullback.

To read the full piece, click here: Experts weigh in on what the 2019 housing market will bring

Related posts

Nation’s largest MLS will get even bigger this year

jlspr

Gloomy prediction for home buyers: Prices will continue to rise in 2023, despite a cooling housing market

jlspr

Margo Wheeler named NAR’s 2023 Vice President of Association Affairs

jlspr