The year 2018 is expected to be a positive one for home buyers in California and other parts of the United States. Residential real estate experts said they expect more moderate increases in the prices of homes this year combined with increasing inventory levels. At the same time, unemployment is low, and consumer confidence is high, which translates to potentially more buyers who feel financially secure.
These are all signs that now might be as good of a time as any to make a home purchase. Particularly regarding home prices, they have increased during the past several years, thus pricing many buyers out of expensive areas. In fact, some experts warned that the United States was headed toward another housing bubble.
However, after experiencing a year over year boost of more than five percent at the end of 2017, home prices are now expected to enjoy an increase of just over three percent year over year. In addition, it is anticipated that the San Francisco market will end up losing some steam, which may increase would-be buyers' opportunities to get into the home buying game. At the same time, markets in Southern states may witness climbing home prices due to ongoing economic growth.
With 2018 shaping up to be a solid year economically, many consumers in California may be interested in diving into residential real estate. However, they understandably may not know where to start when it comes to completing a deal. An attorney can help to ensure that a buyer's rights are protected each step of the way when making a home purchase in the Golden State.
Source: realtor.com, "The 3 Best Reasons to Buy a Home in 2018 (but You'd Better Hurry)", Holly Amaya, Jan. 4, 2018