3 Keys to the Housing Market


Things to Know in Today’s Housing Market.

A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don’t know yet.

PTC-Computer-Solutions-Parker-Associates-blog-July-2019-blog-pic-3-keys
PTC-Computer-Solutions-Parker-Associates-blog-July-2019-blog-pic-3-keys

The following three areas of the housing market are critical to understand: interest rates, building materials, and the outlook for an economic slowdown.

1. Interest Rates

One of the most important things to consider when buying a home is the interest rate you will be charged to borrow the money. In our recent post we posed the question, “Are Low Interest Rates Here To Stay?” The latest information from Freddie Mac makes it appear they are. We are currently at a 21-month low in interest rates.

2. Building Materials

Talk of tariffs could also affect the housing market. According to a recent article, the National Association of Home Builders reports that as much as $10 billion in goods imported from China are used in homebuilding. Depending on the outcome of the tariff and trade discussions between several countries, there could be as much as a 25% boost in the cost of building materials.

PTC-Computer-Solutions-Parker-Associates-blog-July-2019-Keys
PTC-Computer-Solutions-Parker-Associates-blog-July-2019-Keys

3. Economic Slowdown

In a prior article on this topic, we began the year with many economic leaders thinking we could expect a recession in late 2019 or early 2020. As spring approached, we reported that economists had started to push that projection past 2020.  Now, three leading surveys indicate that it may begin in the next eighteen months.

Bottom Line

The country is experiencing a strong housing market.  Wages are increasing, home prices are appreciating, and mortgage rates are the lowest they have been in 21 months.  Whether you are thinking of buying or selling, it’s a great time to be in the market.

PTC-Computer-Solutions-Parker-Associates-blog-July-2019-house-keys
PTC-Computer-Solutions-Parker-Associates-blog-July-2019-house-keys

The REMA Team is an alliance of professionals in the real estate industry focused on research, data, and how it can be used in marketing and sales with our expertise in understanding and interpreting the data we gather for our clients.  We focus on ensuring that visualizations are clear and accurate, giving decision-makers confidence in their choices.  Data is data, but visualizing the data is what makes the difference.  Explore both the spatial and non-spatial data in several different formats to understand it fully such as mapping, charting, and tabular.  Interpretive data follows in qualitative, quantitative, and temporal data formats.  Understand what will suit your situation best.  We’d enjoy the opportunity to connect with you.  Contact us directly to discuss your personal situation.

Stay on top of the latest market research showing important housing data that can help in the real estate industry. Contact us for more information.

J. Chris Parker  is a principal of Parker Associates of Jacksonville, Florida, marketing consultants to the real estate industry as well as the lead associate on the new Barclay’s branch, Barclay’s Real Estate. Though based out of Jacksonville, Florida, Chris & David and the team at Parker Associates have worked in 17 Countries and 33 States through the years as well as 65 out of 67 counties in Florida. Chris can be reached at 904-607-8761 or via email jcrhis@ptccomputersolutions.com.

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