What will 2018 bring to our housing market? How will the tax reform impact the housing market?
Many experts have been weighing in, and I’ve shared a lot of those articles below as I think they are important to read. Of course, everyone has opinions and who will be right? Well, here are my predictions:
1)Inventory levels will increase in Spring and early Summer Markets – sellers who were on the fence in 2017 and who feel they missed out will get their homes on the market
2)Interest rates will rise. All signs point to them being mid 4% by end of 2018. 4.5% is still very competitive when you look at the historical trends. The increase will cause the fall market to be more difficult to sell a home than in years past.
3)Tax Reform will have little impact until 2019. I’ve already seen people putting it to the side, probably because they don’t quite understand it. We won’t see impact of the bill until people file their 2018 taxes (Under the new laws) and then will feel impact in mid 2019.
Of course, hindsight is always 20/20 – so let’s see if I was correct when the year ends!