Northern VA Home Sales Expected to Increase in 2018
With an increase of available homes for sale, Northern VA home sales expected to increase in 2018. This will mainly be driven by millennials who will continue to buy homes and the returning of boomerang buyers. Builders are expected to increase housing starts as reported by Core Logics, which will increase the available inventory. The challenge of 2017 has been the continual low inventory of homes for sale.
National Home Sales
Freddie Mac, Fannie Mae, and The Mortgage Bankers Association are all projecting that home sales will increase in 2018. Here is a chart showing what each entity is projecting in sales for the remainder of this year and the next.
As we can see, each entity is projecting sizable increases in home sales next year. If you have considered selling your house recently, now may be the time to put it on the market.
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