Richard Stein – Realtor®, Douglas Elliman, GREEN, SFR, CBR, eCertified®

Local Agent, Worldwide Marketing – Douglas Elliman Real Estate formerly Prudential Douglas Elliman Real Estate

Experts weigh in on what the 2019 housing market will bring


Rising mortgage rates and home prices are hindering the housing market. But one encouraging sign has been the uptick in townhouse construction, a more affordable single-family option. (Seth Wenig/AP)

By Kathy Orton

A year ago, several experts predicted the new tax law would cause a slowdown in the housing market. So far, the limitations on mortgage-interest and property-tax deductions haven’t had a negative impact. Instead, rising mortgage rates and home prices are doing more to put a damper on the market.

Economic uncertainty brought on by global trade tensionsstock market volatility and the government shutdown also isn’t helping. In this environment, potential home buyers can be reluctant to make a large purchase such as a house. The last sustained government shutdown in 2013 saw a slump in home sales.

It is too soon to tell whether the recent decline is a temporary lull or a major pullback.

In their forecasts for 2019, real estate experts anticipate……..

Full story at The Washington Post

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