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To Buy or Not to Buy: the Truth About the 2019 Real Estate Market

by | Oct 18, 2019

It’s natural to be skeptical of the housing market. After all, buying a home is a major investment, and there’s nothing wrong with wanting to get the timing just right. For the past few years, Florida’s prosperous housing market has been met with a healthy dose of skepticism. Is it going to last? Does buying a house right now make sense, or is it better to bide your time and wait for an “inevitable” dip? Navigating the world of mortgages, interest rates, and long-term appreciation is far from easy – but, when done with the right information in hand, it’s incredibly fulfilling. That’s why we’re here to give you a no-bull summary of the current real estate market at a glance, equipping you with what you need to know in order to make an informed decision.

1. Buyers Are More Cautious

“Is it a buyers’ market?” is easily one of the most frequently asked questions in the real estate industry. This has been no different in 2019, a year that’s been inspected carefully for even the slightest dips and upticks in the housing market.

As mortgage rates drop (more on that next), buyers are actually more cautious than might be anticipated. Those who are looking for homes are reportedly more willing to take their time when looking for a house. This essentially accomplishes two things: it puts pressure on sellers to ensure their homes are priced competitively, and it illustrates buyers’ fears about jumping the gun.

2. Mortgage Rates Are the Lowest They’ve Been in 3 Years

If you’re considering buying a home but are experiencing some hesitancy, take comfort in knowing you’re not alone. That being said, it’s important for you to know a few statistics about the current market as you further evaluate your options.

It’s important to note, for example, that although it’s a sellers’ housing market, resources abound for buyers to have a successful experience purchasing a home: mortgage rates are actually the lowest they’ve been in three years, dipping from an average of 5.09% in November 2018 to a new average of 4.09% as of June 2019. This bodes especially well for first-time buyers who have access to federally- or state-funded loan assistance programs to help keep down payments low.

3. Most Home Buyers are Millennials

Millennials love technology, and that has revolutionized the way that commodities are bought and sold. E-commerce is one of the most powerful forces on the modern market. Now, Millennials have come of age and are venturing into home ownership, dominating over one-third of the housing market as of 2018. As a result, an online presence has become crucial to helping a home get sold.

If you’re looking to sell your home in 2019, you must keep Millennials in mind. That not only means listing your home online, but also working with a real estate professional who can make sure your home is seen by prospective buyers.

The modern real estate market is dynamic and unique – and, despite what many skeptics might suggest, it is thriving. Whether you’re looking to buy or sell your home in the near future, the best thing you can do is stay informed. Understand what programs and assistance are available to you, be mindful of mortgage rates, and understand which demographics are taking over the market. Once equipped with the truth about the 2019 real estate market, you’ll be set up for long-term success. If you have any questions about buying or selling your home, our team at Agile Group with Casa Fina Realty is here to help you understand your options. Don’t hesitate to reach out to us.
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Agile Group with Casa Fina Realty provides expert market knowledge to help you throughout all of your real estate needs. Our goal is to provide value to our clients as quickly as possible. Our team is equipped to adapt to each client’s needs. We are responsive, personal, and flexible. We strive to build strong relationships with our clients based on transparency and confidentiality.

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      Agile Group with Casa Fina Realty provides expert market knowledge to help you throughout all of your real estate needs. Our goal is to provide value to our clients as quickly as possible. Our team is equipped to adapt to each client’s needs. We are responsive, personal, and flexible. We strive to build strong relationships with our clients based on transparency and confidentiality.

      Contact Us

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