2017 is nearing it's end and questions about 2018 remain. If the economy of current and previous years have any indication on the real estate market in 2018, then the trend certainty look encouraging. In 2017 the economy grew, as seen by the 3.1% increase in GDP and 3.3% increase in consumption. Over the past year, many people have found jobs as the current unemployment rate is 4.2% nationally and 4.8% in California. This could partly be explained by the 1.2% increase of job growth in the U.S. Though it seems low mortgage rates might start to rise, this is to be expected because of the booming economy. As you can see in the chart below by Freddie Mac, the house price growth is actually projected to slow in 2018.
The time to act is now.
Here is what we now know about 2018:
- The prices of homes are projected to increase by 4.9%
- Mortgages rates are also estimated to increase to an interest rate of 4.4%
Knowing this, why not act now before prices reach too high? Call us at (562) 425-2500 for lower mortgage rates and better financing! We can finance 3-4 unit homes at only 5% down! We'll even throw in a free appraisal! We know the real estate market and we know the time is now.