55+Buying a new (to you) home.Market DirectionSelling your home.

Higher interest rates and demand predicted in coming few years

Global markets are stabilizing, which will cause interest rates previously held in check by cautious investors to increase. This predicts a slight downtown in 2018, since currently sales volume is low and prices are high, so rising interest rates will initially decrease demand from prospective buyers who can no longer afford to qualify for what they were aiming for. However, once sellers readjust their prices to the state of the market, buyer demand is expected to go up, peaking in 2020.

Speaking of 2020, analysts are predicting a small recession that year. But don’t worry, it won’t be as bad as 2008. After the peak in 2006, buyer demand plummeted due to an inability to afford to buy. But now that the job market is recovering, more first-time homebuyers that have been slow to build up their careers are expected to be looking in the next few years. In addition, many Baby Boomers are now retiring or will soon, and with that comes selling and relocating to retirement homes. So there will still be plenty of buyer demand after the 2020 peak.

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