Millennials Will Drive Housing Market in 2019

Home buying will become more and more of a challenge in 2019. That’s the consensus of real estate experts who weighed in for a recent Forbes article.

Mortgage rates will continue to rise and could reach 5.8% for a 30-year fixed mortgage, according to Aaron Terrazas, Zillow’s director of economic research. Higher rates will make for a slowing market.

Ruben Gonzalez, chief economist at Keller Williams agrees. “As we look toward 2019, we are anticipating home sales to decline around 2%. We’re expecting it to be another slightly slower year…”

But despite a slowing market, Millennials will lead the charge and account for 45% of mortgages. Danielle Hale, chief economist for Realor.com says that “first-time buyers will struggle next year, older Millennial move-up buyers will have more options in the mid-to-upper-tier price point and will make up the majority of Millennials who close in 2019.”

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Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.