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Saturday, January 26, 2019

#TimeToBuy The Housing Market’s Rebalancing Act #TimeToBuy #5StarREALTOR #ChrisBJohnsonREALTOR

#TimeToBuy The Housing Market’s Rebalancing Act #TimeToBuy #5StarREALTOR #ChrisBJohnsonREALTOR: Your BEST CHOICE FOR A REALTOR® IN LOS ANGLES & VENTURA COUNTY CA, Luxury Home Specialist, Certified Xome Auction Luxury REALTOR® #TimeToBuy The Hou...

Camarillo Short Sale Specialist #TimeToBuy #5StarREALTOR #ChrisBJohnsonREALTOR The Housing Market’s Rebalancing Act

BY 
Real Estate Agent with Allison James Elite CA. BRE 01501699
As millennials age and form new households and families, they will be a strong source of demand this year. Many millennials will be straying from urban centers and toward the suburbs. However, single-family housing supply will remain tight until Baby Boomers begin downsizing in greater numbers or new construction picks up.
“Since tight market conditions in the existing homes market will remain in place, and construction will increase only slightly, we expect existing home sales to remain close to their current levels, with a gradual downward trend,” BBVA stated in its outlook.
As of November, the housing market held 4.1 months’ supply, still well below the threshold of six months’ supply that marks a balanced market. At the most extreme, Oakland, California; and Tacoma, Washington, held just 1.7 months’ supply.
Just like sales, home prices have slowed in the second half of 2018. Home prices increased 5.1 percent over the year in November, down from 6.6 percent in March and April. Despite the slowdown, only 16 of the largest 80 metropolitan statistical areas posted home price appreciation slower than 5 percent as of November.
Home price growth will likely “remain solid” this year, according to BBVA, and will likely continue to outpace inflation.
New home construction should increase “slowly” this year, and multifamily construction should “stabilize at the current levels.”
Mortgage rates have risen and will likely rise a little more, putting pressure on affordability. The 30-year, fixed-rate mortgage rate landed around 4.5 percent at the end of the year, according to BBVA, and is likely to “stabilize around 5% in the short- to mid-term.” The good news there is that “more than one-half of the impact of interest rate increases has already been absorbed by the market,” BBVA stated.
Overall, we can expect the shifting housing market to “balance some of the regional disparities built up over the last decade,” BBVA stated.
Already markets where prices are at their most extremes—either far outpacing economic fundamentals or lagging fundamentals—are beginning to realign, according to BBVA.
“This regional rebalancing is positive and will contribute to the sustainability of the housing market in the long run,” BBVA stated. “We expect this trend to continue in 2019.”
The outlook is largely positive for markets that are attracting knowledge workers and millennials forming new households or upgrading as their families grow. On the other hand, housing markets in smaller metros and rural areas may struggle.
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Chris B. Johnson is a REALTOR® who Specializes in Short Sale and REO Transactions. Chris has been Certified as a California Association of Realtors HAFA Specialist, a National Association of Realtors Short Sale and Foreclosure Resource, Chris B Johnson Realtor is a Certified Distressed Property Expert, Certified Short Sale Negotiator, Certified Default Advocate and Certified Pre-Foreclosure Specialist. With a full time staff dedicated to short sale negotiations and transactions, we have been successful with (almost) every short sale to date.  LinkedIn Pro    UpNest    What’s Your Home Worth?
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About Chris B Johnson Realtor

Short Sale Specialist, Certified Home Retension Specialist, Behind on your Mortgage Payments?, Stop Foreclosure, Postpone the Auction, get Loan Modification Help and Short Sale Help! I am a Certified Pre-Foreclosure Specialist, Certified Home Affordable Foreclosure Alternative Specialist (HAFA) Certified Short Sale Negotiator, Certified Short Sale Specialist, National Association of Realtor Certified Short Sale Foreclosure Resource and Broker Price Opinion Resource (Expert in Home Valuations and Pricing), Chartered Financial Consultant and Certified Home Retension Specialist. Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sell a home. I am NOT interested in Selling 100 or 200 homes a year because I would not be able to give each family the time, attention and energy they deserve. I would also lose touch with my past clients and would not be available to help where needed. I take pride in working personally and individually with each of my clients. Once you are my client, you will work me from the beginning to the end of the transaction. When you call, you will get me directly, not my assistant or secretary. I have been a financial and real estate consultant for the past 30 years and have specialized in loan loss mitigation, short sale negotiation and REO marketing since 2005. I know how to negotiate contracts and navigate through the most difficult transactions. I am a member of, and Certified by the National Association of Realtors as a Short Sale and Foreclosure Resource, and Broker Price Opinion Resource. I am a Member of, and Certified by the California Association of Realtors as a Certified Home Affordable Foreclosure Alternative Specialist. I am a Certified Distressed Property Expert, Certified Short Sale Negotiator, Certified Pre-Foreclosure Specialist and Certified Default Advocate. For more please go to my LinkedIn Profile. Thank You!! And I look forward to hearing from you! For more. please see my profile on LinkedIn and Google.
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