2019 will bring a new market for buyers and sellers. The old market of prices climbing fast is gone. The new market brings a slower pace of appreciation and a few more listings to increase inventory. The combination of slowing appreciation and more inventory will swing the market towards the buyer’s direction, but we still expect a slight Sellers Market as a whole in 2019.
Pricing: +4% Growth vs +10% Last Year
Mortgage Rates: Avg 5.3% most of the year
Inventory: New construction will continue to add more inventory this year
“The new market will shift things meaningfully in 2019. Sellers will need to prioritize their goals and buyers will need to be ready to move quickly when the property is compelling.” says Becky Babcock, CEO/Owner of Path & Post.
Lifestyle Properties: Buyers will continue to search for unique lifestyle goals and we’ve made it easier this year by featuring several sought-after property types in our lifestyle search options:
Active Adult Communities
No Subdivision Homes
Sellers will still have the upper hand in negotiations, especially under $300,000. The higher price points will be chasing a falling market all year. This may be your last year to cash out and move up or move on.
If you’re not on the market yet, list early in the year to beat the Spring rush. More buyers register and search online in February and March than any other time of year. So smart sellers will list sooner, rather than later, in 2019.
SEE: The Ultimate Guide to Selling Your Home
You will finally get room to negotiate for more concessions and you will get more inventory to choose from this year. Keep an eye out for the potential of rising interest rates throughout the year, see chart below to understand how rates impact your buying power.
SEE: The Ultimate Guide to Buying a Home
Every Market is Local.
Woodstock is different than Canton is different than Marietta is different than Waleska, etc… Be sure to check your local market reports weekly if you are considering a move in 2019.
SEE: North Atlanta Market Reports