Here is a look at what trends are going to come out of the real estate market in 2019. A rise in competition could mean less bids on your homes this year. First time buyers are up starting to make up a large part of the market. They are taking a lot longer to decide on their first home because interest rates on mortgages are going up and with many of them currently renting, it has been increasingly difficult to save up for a down payment on a home. Realtor.com has predicted that homes sales in 2019 will be on the decline by 2% going into 2020. What does this mean for sellers and buyers?
#1: Rising Competition In The Sellers Market: Although it may seem like a good time for sellers in today’s real estate world, there is a major rise in competition and that means it may take longer to sell and require sellers to make an more incentivizing offer. Also in the traditional market the bidding wars are on the decline. Why choose us? Because CASH BUYERS ALABAMA buys your home and works mainly with Off-Market Cash Buyers, we are seeing a raise in our buyers list every single day. That means multiple offers for you!
#2 Overall Home Sales Will Drop: Looking towards 2019, home sales are predicted to decline by 2% going into 2020. It is expected to be another slow year as traditional buyers continue to struggle with higher mortgage rates. When you use CASH BUYERS ALABAMA we use non-traditional home buyers who pay in cash. This allows us to close in 14-30 days. We buy your home as-is, no repairs necessary. We pay all closing costs and you never pay ANY real estate commission fees.
#3 First Time Buyers: First time buyers will make up the majority of the buying pool in 2019. Millennial’s will continue to make up the largest segment of buyers in 2019. This trend could mean more homes on the market longer. A lot of first time buyers are bidding over what they are comfortable with, it is taking them longer than normal to find homes.
#4 Mortgage Rates Are On The Rise: Rising rates will make housing less affordable and will likely deter certain home buyers from the market. It has been stated that as rates rise it will translate directly into less money being borrowed and buying power on the decline. This means that your home could sit on the market longer, even if you put in all the time and repairs needed to sell it at top price.
#5 Renters: A bigger issue with selling a traditional single-family home on today’s market is that many people who would be first time buyers are still renting. Typically, people will rent before they buy a home. Rent is on the rise and the renters market is too crowded, it has become harder for those who could be first buyers to save for a down payment and buy a house. Not to say some young millennial families are not buying their first homes now but as an average it has become more challenging for them.
If you are a homeowner and you have unwanted property for whatever reason we are a great solution to consider. If you do not have time to keep your home on the market or you would like to downsize quickly, Cash Buyers Alabama is your solution. We can close in 14-30 days. We buy your home for cash and our offer is a NET offer, meaning sellers do not have to pay any real estate fees and no closing fees. We buy homes as-is so if there was any repairs to be made, you will not be responsible for any of that.
Cash Buyers Alabama has been buying and developing homes in the Mobile, Alabama area since 2011! We are here to help you no matter what your real estate needs are. We just want to get you a fast and easy cash offer on your home today! You are 1 call away…(251) 333-5588
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