Many housing market forecasts for 2018 did not include the impact of the new tax law in their projections. Now, five real estate experts weigh in on major trends they expect for the year.
Nearly all experts agree that limited housing inventory will play a big role. The Washington Post reports that as of September 2017, there were 12 percent fewer homes on the market nationwide year-over-year. However, Zillow chief economist Svenja Gudell predicts that home builders will turn their focus to entry-level homes this year, “Builders cannot and will not ignore a hungry market."
Nela Richardson, chief economist at Redfin, says inventory will be the major factor shaping the 2018 housing market. “For the third year in a row, the nationwide inventory shortage is likely to continue to hinder sales and increase prices,” she wrote.
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