Studies show that the national economic environment will remain favorable for the home mortgage market in 2018. During the last years, the moderate economic growth already brought lower interest rates as well as significant job gain, so 2018 is expected to bring increases in purchase mortgage volume, due to the growth of the house price and rather small and insignificant increases in home sales.
Statistics from this year show that average US home price rose with more than 6,5% in 2017, compared to 2016 and homeowners did not feel too stressed out and used home equity to buy things; in these circumstances favorable for the economy, specialists estimate a growth with almost 5% in 2018. Refinance mortgage activity is also expected to decline, reaching the lowest annual in the last 3 decades, even if rates remain relatively flat. Homes are at their highest value.
Best US cities for finding houses for sale are in California; hottest housing markets are in Vallejo, Kennewick and San Francisco.
Other real estate market reports show that homes will remain a good investment in the long run and foreign prospective buyers seem now more interested than even in purchasing properties in the US.
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