Even though real estate sales have slowed slightly in recent months, the housing market should remain healthy. That’s according to Lawrence Yun, chief economist of the National Association of Realtors, who presented his 2019 housing forecast earlier this month at the association’s annual conference. “2017 was the best year for home sales in 10 years, and 2018 is only down 1.5 percent year to date,” Yun said. “Statistically, it is a mild twinge in the data and a very mild adjustment compared to the long-term growth we’ve been experiencing over the past few years.” Although U.S. home sales will likely be down for 2018, Yun expects a slight rebound in 2019 with a 1 percent increase and more growth in …
2017 Real Estate Forecast
Despite tight housing supplies and rising home prices, buyers still flocked to the housing market, making 2016 one of the best years ever for home sales and setting the stage for strong real estate conditions in 2017 and 2018. The National Association of REALTORS is predicting 2016 will be the best year for U.S. home sales since 2006. In Utah, if the pace keeps up, 2016 will have the most real estate transactions ever on records dating back to 2003. In Northern Utah, Weber and Davis County sales increased about 4 and 2 percent, respectively, for the first nine months of the year. That’s up from a very strong 2015. Moving forward, experts forecast 2017 should have even more transactions. …