If 2018 is the year you plan to move ahead with buying, selling or renting a home, this report from U.S. News and World Report has some information you need to know.
In a nutshell, their report predicts that homebuyers will face headwinds, sellers will remain in the sweet spot and renters may see more incentives and negotiating power. The inventory of available homes will continue to be tight. So, if you’re a buyer, it will be important to have your financing in order, so you’ll be pre-qualified if there are multiple offers on a home. That same lack of inventory will work to the advantage of sellers, who may be able to ask a higher price. For renters, the recent boom in new construction of apartments means that you may have more bargaining power in buildings that have a sizable number of vacancies. Whatever your housing goals for the year ahead, the best advice is to do your homework. Reading this report is a good first step.
The next is to contact a real estate agent who knows your local area – like the team at Vanguard Realty Associates. We’re ready to help!