DALLAS, TX – Constraints and upticks in the housing market have made it difficult for buyers to gain a foothold in recent years, but data from Realtor.com’s 2018 National Housing Forecast suggest those roadblocks will begin to ease next year — especially for buyers in North Texas and other southern cities.
The data suggest home prices will begin to level out and home sales will rise modestly. Buyers in Dallas, Fort Worth and Arlington can expect home-buying costs to increase by 5.57 percent in the coming year, down slightly from 2017’s growth rate of 6.02 percent.
The annual forecast, which is among the industry’s leader in tracking and analyzing major trends in the housing market, also expects an increase in millennial mortgage share and strong sales growth in Southern markets. The wildcard in 2018 will be the impact of the tax reform legislation currently being debated in Congress.
“We are forecasting next year to set the stage for a significant inflection point in the housing shortage,” said Javier Vivas, director of economic research for Realtor.com. “Inventory increases will be felt in higher priced segments after home buying season, which limits their impact on total sales for the year. As we head into 2019 and beyond, we expect to see these inventory increases take hold and provide relief for first-time home buyers and drive sales growth.”
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