Home Sales Expected To Soar Through 2018 What Buyers Need To Know

Dated: 07/11/2017

Views: 157

By now just about every would-be buyer out there knows there simply aren't enough homes for sale these days to appease the hordes of competition. But despite the shortages, rising prices, and bidding wars, more homes are expected to be sold this year than in more than a decade.

In 2017, the number of sales of existing homes (which have previously been lived in) is expected to rise about 3.5%, to 5.64 million, according to the midyear forecast from the National Association of Realtors®. The group predicts that existing-home purchases will rise an additional 2.8% in 2018, to 5.8 million.

"The combination of the stock market being at record highs, 16 million new jobs created since 2010, pent-up household formation, and rising consumer confidence are giving more households the assurance and ability to purchase a home," NAR Chief Economist Lawrence Yun said in a statement. "However, prices are still rising too fast in many areas and are outpacing incomes."

Latest Blog Posts

8 Cool Housewarming Traditions From Around The World

8 Cool Housewarming Traditions From Around the World—From Cow Guests to 'Haint' BlueMoving into a new home calls for a great housewarming party! And if you're looking for a creative way to

Read More

House Hunting In One Day 6 Tips For Maximizing Your Time

House Hunting in One Day: 6 Tips for Maximizing Your TimeIn the ideal home-buying scenario, attending open houses and pinpointing the perfect place is a breeze. But in a seller's market,

Read More

DONT WAIT TO SELL YOUR HOUSE BUYERS ARE OUT NOW

Don’t Wait To Sell Your House! Buyers Are Out Now Recently released data from the National Association of Realtors (NAR) suggests that now is a great time to sell your.

Read More

6 Downsizing Mistakes Even Smart People Make

6 Downsizing Mistakes Even Smart People MakeThis past year, my mother downsized from our six-bedroom family home into a two-bedroom condo in a senior development. Although she

Read More