How 2019’s millennials are beating stereotypes and buying in the least likely places
Most of 2018 was a hot year for the housing market, but as we approached the later months, the housing market began to cool off. Why is that? Well, as we addressed in our previous housing market blog update back in January, much of 2017 and 2018 was red hot for homeowners looking to sell their homes. This was due to high demand from buyers and little competition. But like all imbalanced markets, market forces began to shift in the later months of 2018, slowing the two year explosive growth sellers had been experiencing. Consequently, the housing market began to show signs of balance again as many buyers opted to wait patiently for an inevitable shift in tides. While 2019 continues to favor sellers, many existing buyers looking to upgrade to a larger home are seeing favorable prices decreases. That being said, what is the fate for first time home buyers? This segment has been priced out over the past two years, and has witnessed starter home price hikes averaging 57%. Is there hope for them in 2019?