What Home Buyers, Sellers And Investors Can Expect From The Real Estate Market In 2019?
There are certain things which generally the buyers, sellers and also the investors can expect from the real estate market or Toronto housing market in 2019 that are discussed well in this section.
2019 Real Estate Market
The housing market of 2018 has seen its ups and downs. Historically, this particular year also started with the sky-high home prices, a definitive upper hand for sellers and also low mortgage rates. The home price growth has again faltered in recent months. This rate has risen to their highest point in nearly eight years and so, the favor has started to shift from seller to the buyer.
Mortgage Rates Will Continue Rising
The mortgage rates remain lower than they were during most of the recession despite the steady climbing for the past two years. But, this particular trend will surely change in the year 2019 due to the fixed-rate mortgage as it reaches 5.8%.
Despite Those Rising Rates, The Millennials Will Keep Buying Homes
Continue rising mortgage rates and also surging millennial demand is considered to be the most important characteristic of the housing market in 2019. Generally, the rising rates by making housing less affordable will deter certain potential homebuyers from the market.
In this way, it is particularly evident from the above section that the Toronto luxury home builders should necessarily be well aware of these trends.
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