National Real Estate Market Update- December 2019
Happy Holidays!
Are you wondering how the Housing Market is in December? Is now a good time to buy or sell a home? Are rents generally going up or are we seeing a decrease? Are we going to have a recession in 2020? I’m Shemeika Fox, Your Santa Cruz Real Estate Expert, and I’m here to answer all those questions for you!
We are seeing lower interest rates right now than we have seen since the beginning of 2018, and if that’s not a happy holiday season, I don’t know what is. Interest rates are also expected to remain low through 2022 according to the big dogs like Fannie Mae and Freddie Mac.
Hi, I’m Shemeika Fox, Your Santa Cruz Real Estate Expert. How is the Housing Market in December? It’s an excellent time to purchase a home. Lower interest rates mean more buyers are able to qualify for a home loan and also more buyers who can qualify for higher loan amounts, so if you’re selling an upper-end home, now may be a good time to think about selling because there are more buyers who are actually able to afford to purchase a higher-end home.
Now, let’s look at rents. If you track rents from 1988, rents continue to increase significantly. Rents are not going down, but they are going up. Lastly, let’s end with this. With all of the talk of the recession, some people are on the fence as to whether they should buy or wait to sell. I’ve said this before, and I’ll say it again. A recession does not mean a housing crisis. Housing prices actually went up in three out of the last five recessions. So don’t let that worry you. With interest rates excepted to remain low and rents on the rise, now is a great time to buy and its also a great time to sell or buy an investment property.
Please reach out to me if you have any questions and would like to talk further about How is the Housing Market in December, or if you would like to schedule a confidential consultation. My name is Shemeika Fox, I’m Your Santa Cruz Real Estate Expert, and as always, I am here to help!
