That is the major question on the minds of buyers and sellers alike as we move into 2019. After a blow-out 2018 sales season in the Birmingham market, everyone is waiting to see what 2019 will hold.
One thing that we know is that interest rates are predicted to to increase steadily throughout 2019, going from 4.9% in the first quarter to an expected high of 5.3% in the fourth quarter. Even with this increase, buyers will still be able to purchase at a rate lower that their parents and grandparents did when they bought their homes years ago.
If you look at interest rates historically, they went from 8.86% in 1970 to 12.7% in 1980 to 8.12% in the 1990's, so rates in the 4's and 5's are still fabulous.
Home prices nationally are expected to rise 4.8% over the course of 2019 according to national experts. That being said, most experts expect that home sales for 2019 will outpace 2018.
If you are still on the fence about buying or selling in 2019, now is the time to gather information so that you will have the best facts to help you with your decision. I am here to be a resource for you and am happy to meet with you to discuss details specific for your situation.