The housing market is changing.

As I reported before, experts are predicting home prices will continue to appreciate over the next few years, but at a slower rate than we’ve seen in recent years. Other major indicators such as housing starts, new home sales, existing home sales and homebuilder confidence have trended down over the past few months, and it appears we are moving towards a more balanced market.

Furthermore, Freddie Mac forecasts mortgage rates to hit 5.1% in 2019 and 5.6% in 2020. 

This might leave you asking, “When is a good time to list or buy in 2019?” 

For Sellers

In the industry, we often refer to the January-February market as the “sweet spot” for listing because competition is very low–check out this chart–and buyers hit the internet to start shopping for homes. This means your house gets more attention during the Winter months, putting the law of supply and demand on your side.

Plus, buyers that are actively visiting properties during the Winter are more serious buyers, which means less showings producing a contract, as the chart to the right demonstrates.

If you’re thinking of selling, here are two great tools to get you started:

For Buyers

Consider bumping up your home search before the influx of buyers in the typical spring market. You’ll buy while home prices are relatively low and before interest rates start to climb. A win-win! Plus, you can avoid the dreaded bidding war, which still happen on the Upper Westside. Another tip: lock in your rate now since primary mortgage rates are at a 2-month low. 

If the talk of rising interest rates and home prices scare you, remember, mortgage rates are still historically low, and many experts agree that Atlanta is not overvalued or in a price bubble because the economy is so strong, and prices are still affordable compared to many cities.

If you’re thinking of buying, check out my Home Buyer Roadmap to get started.

As always, if you’re buying, selling, or just have questions, feel free to shoot me an email, or text or call me at (404) 219-5968.

Best,

Michelle