Generally speaking, 2017 was a great year for sellers in the real estate market. Buyers didn’t see the same luck. But according to realtor.com’s 2018 predictions, help for those home buyers is finally on the way in the form of slower home price appreciation and 7-percent growth in single-family housing starts.
“Inventory increases will be felt in higher-priced segments after spring home buying season, which we expect to take hold and begin to provide relief for buyers and drive sales growth in 2019 and beyond,” said Javier Vivas, director of economic research for realtor.com.
There’s good news for Knoxville as it is one of several cities expected to benefit the most from buyer migration to the South, with home sales growth expected to exceed the national rate.The real estate forecast is expected to improve for home buyers in 2018 and more people are expected to move to the Knoxville area. If you are interested in learning more about the local Knoxville Tennessee or national real estate market, call Tonja or Steve Doty at 865-599-7967.