A lending company led by David Gomez, Priority Mortgage Group (dba Priority Financial Group) serves clients in the Southern California area. David Gomez and his team at Priority Mortgage Group work to provide clients with superior lending services by staying up to date on the latest developments in the housing and mortgage industry.
Although mortgage rates are expected to rise in 2018, many experts are predicting that the overall housing picture is going to improve for homeowners and potential homebuyers. After a few years of limited inventory, the market could see the housing shortage finally start to ease during the latter half of the year. With more houses on the market, it should be easier for potential buyers to find a home that meets their family’s needs and budget.
In addition to more homes coming up for sale, a deceleration in home prices is expected to occur in 2018. Home prices across the country increased by over 6 percent in 2016 and 2017, but many industry groups are predicting that existing home prices will slow to around 4.1 percent growth nationwide over the coming year. A slowdown in price increases is particularly good news for those looking to purchase their first home.