Housing forecasts for 2019 predict more millennial buyers, rising mortgage interest rates and increased inventory, among other things. Standing out from the crowd and marketing homes correctly will be important this year in home sales. Those planning on listing their home should work closely with their Realtor to do the following:
Market to a younger age group – Forty-five percent of homebuyers in 2019 are expected to be millennials. Keep this age group top of mind when choosing paint colors and staging items and sharing on social media platforms.
Stand out from the crowd – Housing forecasts indicate that inventory woes will ease this year. With more competition on the market, make sure your listings stand out from the rest. When listing homes, put some extra thought into photos, staging and small details.
Offset rising interest rates – Economists are predicting rising interest rates for 2019. When choosing the listing price for a home, consider pricing competitively to help offset the higher rates.
Do research on local home prices – Make sure you are an informed seller by researching your local housing market to see how home prices trend in 2019. Take a look at nearby listings to find sales prices, amount of time on the market, etc.
Click here to view a full 2019 real estate forecast by Forbes.
The hot spring market is not far away, and, as a seller, you will want to make the most of it. If you plan on listing your home, make sure you are ready. I am happy to refer you to any of my trusted Realtor partners and would love to help you with the financing of your new home.