{"id":1837,"date":"2018-01-11T21:58:00","date_gmt":"2018-01-11T21:58:00","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2018\/01\/11\/we-buy-houses\/"},"modified":"2025-03-13T02:32:15","modified_gmt":"2025-03-13T02:32:15","slug":"we-buy-houses","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2018\/01\/11\/we-buy-houses\/","title":{"rendered":"We Buy Houses\u00ae 2018 Housing Market Report"},"content":{"rendered":"

ABSTRACT:<\/h3>\n

For the We Buy Houses\u00ae 2018 Housing Report<\/strong><\/em>,<\/a> we asked 41 of our local We Buy Houses\u00ae office owners (experienced residential real estate investors) in 33 markets around the country about their sentiment regarding their local housing market for the coming year.  Specifically, we asked 5 questions:<\/p>\n

<\/p>\n

1) In 2018, will it be a SELLER\u2019S<\/strong> or BUYER\u2019S MARKET<\/strong> (or EVEN) in your area?
2) HOME PRICES <\/strong>\u2013 going up, down or about the same as 2017?
3) INVENTORY OF EXISTING HOMES FOR SALE<\/strong> \u2013 going up, down or about the same?
4) CONTRACTOR COST (LABOR)<\/strong> \u2013 going up, down or about the same?
5) MATERIAL COST <\/strong>\u2013 going up, down or about the same?<\/p>\n

NATIONAL Summary:<\/h3>\n

According to the local market real estate experts at We Buy Houses\u00ae, 2018 will continue to be a \u201cSeller\u2019s Market\u201d in over 70% of suburban markets in the U.S., with slightly less than 10% predicting that it will a \u201cBuyer\u2019s Market\u201d next year.<\/p>\n

Home prices are expected to rise again in over 60% of U.S. markets, and expected to stay about the same in over 34%.  Our experts expect there to be lower inventory in over 31% of local markets, with inventory increasing in only about 22% of markets next year.<\/p>\n

Regarding the costs for renovation, We Buy Houses\u00ae<\/a> local market representatives expect the cost of contractors (labor) to rise in 48% of markets and stay about the same in another 48% of our areas, leaving only a few percent of our markets in which cost of labor is expected to decrease.   The cost of materials is expected to rise again in 49% of U.S. markets and stay about the same as last year in the other 51%.  There were no <\/em>respondents that expect material costs to decrease next year.<\/p>\n

Conclusion: It\u2019s a Seller\u2019s Market again for most local markets in 2018.  We Buy Houses\u00ae expects home prices to rise 4% to 8% in major suburban markets in 2018, with a median increase of 5.5%  We expect the median price of homes to rise from $248,000 in December 2017 to $262,000 by the end of this year.<\/p>\n

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