Forbes has written an interesting article recently exploring real estate trends for the housing market this year. At the end of 2018, we saw an increase in prices and yet a decrease in the number of sales. While this may concern sellers and buyers, there is nothing wrong with the change.
The real estate and housing market is constantly changing. Although the changes are not large ones, they are noticeable enough to take into account when making predictions.
Coastal properties prices in the next few years may decrease.
According to, a Forbes real estate report, Coastal zones, and properties may see a decrease starting this year. Although there has been a general increase in prices, these increases have been in luxury homes.
Coastal properties bring in lots of revenue due to the beautiful location. The potential decrease in the price is due to patterns noticed in New York and California coastal homes.
The economy is increasing, which means sales will increase too.
Although the United States is still recovering from the horrendous recession that hit in 2001, the economy has seen a drastic positive increase. In the next year, 2019, there will be a continuous increase in our economic status.
With the decreasing unemployment rate and increasing average salary, the housing market will see a positive increase. The housing marking is directly tied to the economic status of the United States.
Opportunity Zones will offer a positive improvement to the Housing Market
Opportunity Zones were created very recently by the government as a part of the 2017 Tax Cuts and Job Act. This act is influential to the housing market because it influences governors to select low to moderate income areas that need growth.
These areas are then used as potential points for real estate companies. This is a great way to increase the housing markets success as it is seen through by the IRS.
This information was provided by Knowledge@Wharton.