The housing market in Delaware and throughout the country is forecast to look different in 2019 compared to 2018. In 2019, the number of available homes is expected to increase while the number of buyers is expected to decrease. Mortgage rates are predicted to rise over the course of 2019, which may mean that some people will still be unable to afford their desired homes. Of course, fewer buyers and more inventory could mean less competition for those in the housing market.
How the housing market could look in 2019
Why winter may be good for home sales this year
In most years, homes in Delaware tend to move slowly during the month of December. However, in 2018, that may not necessarily be the case. This is because many buyers are wary that interest rates are going to continue climbing throughout 2019. Currently, interest rates are just below 5 percent. As a lack of inventory has caused housing prices to increase rapidly, interest rate increases may result in significantly higher mortgage payments.
