What will Happen to the Housing Market for the Remainder of the Year?

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What will Happen to the Housing Market for the Remainder of the Year?

As the housing market begins to slow, experts are wondering if the housing market will continue to see momentum for the remainder of the year.

Questions being asked include:

* Will poor economic news negatively impact housing?
* Will people still be able to afford their dream homes in this market?
* Are we going to see a housing bubble?
* Are mortgage prices too high or have they eased off too much?

Freddie Mac addressed the poor economic news in their April Economic Outlook, explaining how the economic status of today might impact the housing market. Mac explains that while recent data may have shared disappointing reports, they still believe housing will maintain its momentum for the remainder of 2016. Mac added that while they have revised the forecast of economic growth down based on data from the first quarter, they remain optimistic for the economy.

What is the outlook on real estate?

Freddie Mac was positive about the housing market, explaining that long-term interest rates have decreased, and should result in improved mortgage activity.

In conclusion, they expect to see a lot of positive growth in the housing market, with increased construction activity through the warmer months. Rising home values should also encourage more customers and increase confidence through the rest of the year.

Are you thinking of purchasing a home in the Mt. Holly area? Send us a message here and we’d be happy to help you begin your search! Not sure if now is a good time to buy?

Here are 2 Reasons That You Shouldn’t Wait To Move Up To Your Dream Home Now! We’re happy to answer your questions- contact one of our qualified real estate professionals today at 704.997.3794.

If you decide you don’t like your home we will sell it for free. *some conditions apply*

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