2018 Real Estate Forecast

Dated: December 19 2017

Views: 137

North Texas' hot housing market won't cool in 2018, according to a new forecast.

The Dallas-Fort Worth area is expected to be one of the top home markets in the country next year, according Realtor.com's just-released projections. Only Las Vegas will have a stronger home market in 2018, the report predicts.

The D-FW area is forecast to see about a 6 percent increase in home sales and a 5.57 percent hike in median home prices in the year ahead. That's twice the national growth rate for sales and prices, according to Realtor.com

In Realtor.com's  2017  forecast, the D-FW market was ranked 48th with home sales estimated to see a 5.09 percent increase and median home prices predicted to grow at 4.13 percent. 

Rising home inventories in many U.S. markets will enable home sales to grow.

"Inventory increases will be felt in higher priced segments after spring home buying season, which we expect to take hold and begin to provide relief for buyers and drive sales growth in 2019 and beyond," Javier Vivas, director of economic research for Realtor.com, said in the report.

Next year is likely to see a rise in millennial homebuyers who will account for more than 40 percent of new mortgages.

"Millennials are a driving force in today's housing market," Vivas said. "They already dominate lower price home mortgage and are getting close to overtaking older generations for mid- and upper-tier mortgages."

Realtor.com says the biggest uncertainty for next year's housing picture is the current federal tax code overhaul, which could reduce incentives for homeownership and raise taxes for some homebuyers.


Blog author image

Terry Ivie

Texas Real Estate Consumer Protection Notice

Want to Advertise on this Site?

Latest Blog Posts

How To Know If Its Time To Buy A Home

Owning your own home has long been part of the American dream. It's a goal most of us rightfully aspire to, and one that can often help build wealth. Indeed, 64% of Americans own a home today. If'

Read More

Health Benefits Of Strawberries

Did you know that strawberries have been around since ancient Roman times; and were used for medicinal purposes such as: alleviating inflammation, fever, kidney stones, bad breath, gout and more!

Read More

Distorted SelfImage

Have you ever been to an amusement park that had those crazy mirrors that make you look funny? There are mirrors that make us look really tall and thin. Others that make us look short and wide.

Read More

The Telltale Signs Its Time To Refinance

Have you been giving some thought to how you might be able to save money if you refinanced your mortgage? How do you decide if it’s really worth it? Here are four signs that show you might

Read More