Each year, Century Mortgage holds an event to talk about the future of real estate. As it turns out, the next 12 months are looking very good.
Jeff Ratanapool of Century Mortgage has been making interest rate predictions for years. Across all those years, one thing is constant: He gets his predictions right.
As for 2018, the outlook is good. Interest rates are expected to stay low throughout the coming year.
In fact, only on the West Coast are homes less affordable now than they were back in the 1990s.
Still, some people are concerned that there will be a housing bubble in the next two years. If you take a look at the statistics, though, you will find that this is not the case. People are staying in their homes and letting them build equity for more time these days.
Also, homes priced under $700,000 in Louisville are in a very strong seller’s market. This means property is in big demand.
According to Jeff Ratanapool, global conflict is a bigger concern right now than the potential for a housing bubble. He believes this global conflict will be short, but will briefly drive down rates.
All in all, 2018 is gearing up to be a great year for real estate.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.