The National Association of Realtors President, John Smaby, believes real estate firms should remain optimistic about the future. "To look optimistically toward the future, with a majority expecting profits to increase in the next two years. These trends are positive signs, particularly in our constantly evolving industry."
This is a good look into the real estate business, which has seen low numbers for the past few years.
However, the month of March seems to be bringing good news. The average rates have seen a decline since early November, leaving the average 30-year rate at 4.41 percent. This brings in the possibility of boosting home sales this year. We could also see more homes being made because there will be fewer apartment complexes being built in 2019, whereas homes are popping up everywhere.
Since so many homes are being built, this is the time to start looking. Contact a SETCO representative and we'll help you find what you're looking for. SETCO is here to help you through the closing process and the stress that comes with it.
The increase of houses could also bring more young buyers into the market with the next generation now understanding the importance of owning a home.
NAR CEO, Bob Goldberg, thinks this will be the time for change. "It is clear that the real estate industry is rapidly changing, and with that comes growing competition in the market." ... "NAR continues to stay ahead of the evolving trends in technology as we work with market disruptors to best serve our members and ensure they have the resources needed to be successful."
Millennials did, however, scare the industry into thinking house sales would plummet by almost 50 percent. This assumption, fortunately, has so far seemed false. Single-office firms had a median brokerage sales volume of $4.2 million in 2018, while firms with four or more offices had a volume of $100 million. The numbers are still high. The next generation is coming through, and as they get older and begin to start having families, those numbers will begin to rise at a quicker rate.
But don't worry, this does not mean you need to hurry and find your new home now. However, it doesn't hurt to start looking today. SETCO recently partnered up with Qualia, and with this new partnership, your closing process will be even more streamlined. Now we offer a single platform where the entire closing process takes place, from beginning to end. Feel free to click below and ask your local representative any questions you have about the closing process.