Signs are good for housing market; CEO predicts strong 2018

Things are looking up for the U.S. housing market in 2018 – at least according to the CEO of RE/MAX. According to Adam Contos, who co-leads the nationwide real estate firm, rising existing home sales, changing migration patterns and increasing housing starts all spell good news for the market as we head into the new year. According to Contos, inventory problems will carry over into 2018, but there are signs it could improve. “In 2017, housing starts were down 2.9 percent year-over-year and well below the historic 50-year average. That hurts,” Contos said. “We saw glimmers of hope at the end of the year as U.S. single-family homebuilding and permits began to surge. We’d like to see that trend continue.” Increasing existing home sales are also a good indicator of this year’s housing market. According to Contos, they could even rise above record highs.

Source: Aly Yale

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