Like any economic trends, predicting where they might go is an imprecise science. We can make educated guesses, but the biggest moves often catch us by surprise. That being said, let’s look at housing-industry trends we expect to see in the coming year.
- $1.2 Trillion the amount of Purchase Originations in 2019, according to Mortgage Bankers Association.
- 5.1% – where mortgage interest rates are expected to hover most of 2019, which are still near historic lows.
- $395 billion – the amount of predicted Refinance Originations
- 2,426 – the median square footage of a home in 2017, which is down from 2,467 in 2015
- 64% – the homeownership rate in the United States
- 10,000 – the number of Baby Boomers who turn 65 every day who might consider the benefits of a Reverse Mortgage
- $221,500 – current median home value in the United States for 2017*
- 4.7% – amount home values expected to rise in 2019 per National Association of Realtors
- 42% – percentage of the nation’s homebuyers comprised of millennials
*Last full year completed.