The 2017 real estate market, characterized by a relentless listings shortage, surging home prices and a noisy political climate fueling uncertainty about the future, wasn’t without its challenges. Yet real estate professionals have weathered years far less rosy, and with a strong economy propelling job growth (and putting unemployment at a 17-year low), 2018 housing is poised for slow and steady gains — and perhaps a little more balance — say a panel of experts who shared their insights with Inman. It’s expected that historically low interest rates, still baffling to even the most seasoned analysts, will gradually rise to an average of 4.5 percent over the next 12 months and inventory could increase moderately, resulting in what some, though not all economists, predict will be a seller’s market. “This will be the first of many years to come in which it’s all about the millennial first-time homebuyer,” said Mark Fleming, chief economist at First American Financial …
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