In the Reno-Sparks market sales of single family homes is down at that end of September to 4,652 from 5,244 for same time in 2017, a 12.7% decrease.  This follows the predictions below of declined sales in 2018.  Will the predictions from these industry experts pan our for 2019?  In the Reno-Sparks market we could see higher sales in the 2019 as we have started to accumulate more inventory of homes for sale.  But price stability and rising interest rates are some things to watch.  The Shocket Team follows our local market closely and can help you with your decisions to buy or sell in 2019.

There are many questions about where home sales are headed next year. We have gathered the most reliable sources to help answer this question. Here are our sources:

Mortgage Bankers Association (MBA) – As the leading advocate for the real estate finance industry, the MBA enables members to successfully deliver fair, sustainable, and responsible real estate financing within ever-changing business environments.

The National Association of Realtors (NAR) – The largest association of real estate professionals in the world.

Freddie Mac – An organization which provides liquidity, stability, and affordability to the U.S. housing market in all economic conditions extending to all communities from coast to coast.

Fannie Mae – A leading source of financing for mortgage lenders, providing access to affordable mortgage financing in all markets.

Here are their projections:

How Will Home Sales Measure Up Next Year? | MyKCM

Bottom Line

Every source sees home sales growing next year. Let’s get together to chat about what’s going on in our neighborhood.