The housing market across the United States did behave as planned according to some industry experts last year. In fact, everything they thought would happen, didn’t. According to Forbes, Skyler Olsen, who serves as the senior economist at Zillow stated, “We thought there would be some things to take the pressure off.” She goes on to say that they thought interest rates would increase and home prices would level off. “That did not happen at any impactful level,” Olsen stated.
As we all know, the housing market cannot be any hotter than it is now – prices are going up, new home construction is rising, and mortgage rates have barely moved. Apparently, it appears that now is a great time to sell a home and make a nice profit to boot. Experts now believe that home values will continue to grow and that mortgage rates will remain about where they are right now.
An interesting statement Forbes made was, “The generation of adults born after 1980 were slow to enter the housing market, but as a growing share of them get married and have kids they are buying homes at rates equal to their parents. In fact, single millennials are more likely to own a home than prior generations of singles.”
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