Three Things to Know in the Housing Market Today!

Dated: 06/13/2019

Views: 50

3 Things to Know in the Housing Market Today!

3 Things to Know in the Housing Market Today! | MyKCM

A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don’t know yet.

The following three areas of the housing market are critical to understand: interest rates, building materials, and the outlook for an economic slowdown.

1. Interest Rates

One of the most important things to consider when buying a home is the interest rate you will be charged to borrow the money. In our recent post we posed the question, “Are Low Interest Rates Here To Stay?” The latest information from Freddie Mac makes it appear they are. We are currently at a 21-month low in interest rates.3 Things to Know in the Housing Market Today! | MyKCM

2. Building Materials

Talk of tariffs could also affect the housing market. According to a recent article, the National Association of Home Builders reports that as much as $10 billion in goods imported from China are used in homebuilding. Depending on the outcome of the tariff and trade discussions between several countries, there could be as much as a 25% boost in the cost of building materials.

3. Economic Slowdown

In a prior blog post on this topic, we began the year with many economic leaders thinking we could expect a recession in late 2019 or early 2020. As spring approached, we reported that economists had started to push that projection past 2020.  Now, three leading surveys indicate that it may begin in the next eighteen months.3 Things to Know in the Housing Market Today! | MyKCM

Bottom Line

We are in a strong housing market. Wages are increasing, home prices are appreciating, and mortgage rates are the lowest they have been in 21 months.  Whether you are thinking of buying or selling, it’s a great time to be in the market.

Blog author image

Eric S. Stegall

Thank you for visiting my website. I've been helping families find their place at the the lake for almost two decades. I love introducing new customers and clients to this beautiful area, I get to cal....

Latest Blog Posts

4 Tips to Sell Your Home Faster!!!

4 Tips to Sell Your Home FasterSince June of last year, we have seen an increase in the inventory of homes for sale month per month. Every spring and summer, the inventory increases because people

Read More

5 Reasons to Sell Your Home This Summer

5 Reasons to Sell Your House This SummerHere are 5 compelling reasons listing your home for sale this summer makes sense.1. Demand Is StrongThe latest Buyer Traffic Index  from the

Read More

Time for Your Dream Home, Generation X!

Time for Your Dream Home, Gen X!During the housing market crash, Gen X homeowners lost more wealth than other generations. However, things are changing now! A strong economy, increasing home prices,

Read More

Three Things to Know in the Housing Market Today!

3 Things to Know in the Housing Market Today!A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it

Read More