The US real estate market has witnessed strong demand and short inventory of homes this year, making it a seller’s market. In 2019, experts believe that new housing construction will start to rise. Cities with the most construction include Dallas, Houston, and Austin, reflecting Texas real estate market’s strong recovery. However, will this new construction keep up with demand? Most housing market predictions claim that this new construction of homes is recovering slowly, meaning there’s not going to be enough homes to satisfy demand from real estate buyers.
Thus, the US real estate market trends in 2019 will probably continue to suffer from supply shortages in some parts of the country. Are you a real estate investor looking for an investment property to buy? Our investment property calculator will help you find the best ones in any city/neighborhood in the United States using real estate data and analytics.
US Housing Market Predictions: Millennials Are Driving the Market
There’s a popular myth that millennials are a generation of renters. However, looking back at the real estate market trends throughout this year, millennials are actually interested in homeownership and are buying more homes than you think! Millennials are a big demographic group and as they’re getting older and settling down, they’re getting into their home buying years. In addition, when millennials integrate further into the workforce with lasting and high paying careers, they become more comfortable with taking out mortgages.
Persistent demand from millennial buyers can be seen across the country from New York, Miami, to Los Angeles. Millennial demand is one reason making 2019 a good year to sell your home.
For information about the Southwest Florida housing market contact Nick Cornwell at 239.776.5076 or BuildNow@NovaHomesBuilder.com. Nova Homes has been building luxury custom homes in Naples and Marco Island since 2004.