{"id":10151,"date":"2019-03-29T09:22:08","date_gmt":"2019-03-29T16:22:08","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=10151"},"modified":"2024-03-25T07:14:04","modified_gmt":"2024-03-25T14:14:04","slug":"real-estate-news-recap-mar-2019","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/real-estate-news-recap-mar-2019\/","title":{"rendered":"Spring into the Latest Housing Trends: March 2019’s Real Estate News Recap"},"content":{"rendered":"

Spring has sprung! Time to open up the windows, enjoy the fresh air, and read another edition of HomeLight\u2019s Real Estate Recap. <\/span><\/p>\n

Every month, HomeLight scours the web for the latest real estate stories to put together a quick, one-page rundown of all things housing. <\/span><\/p>\n

With all the talk about March Madness, you\u2019d be surprised to hear that the last month of the quarter (slow down, 2019!) was steady and quiet on the real estate front. Even with looming recession forecasts and aftermath of a tumultuous winter brought on by climate change, the market\u2019s holding strong and heating up just like the weather.\u00a0\u00a0<\/span><\/p>\n

Here\u2019s what you should know about real estate in March and what you can expect for the months ahead.<\/span><\/p>\n

\"real
Source: (Tim Gouw \/ Unsplash)<\/figcaption><\/figure>\n

1. Steady rates, happy buyers<\/b><\/h2>\n

In 2018, analysts predicted multiple interest rate hikes for the coming year, which we covered in our <\/span>2019 housing forecast<\/span><\/a>. Good news, home buyers: it looks like the Fed is going to keep rates steady for now.<\/span><\/p>\n

+ NY Times<\/b>, <\/span>Fed, Dimming Its Economic Outlook, Predicts No Rate Increases This Year<\/a><\/strong>
\n\u201cThe Federal Reserve said Wednesday that the United States economy was slowing more than it had previously thought and painted a far less rosy economic picture than the White House as it left interest rates unchanged and signaled little appetite for raising them again in the near future.\u201d<\/span><\/p>\n

\u201cForecasts released at the end of the two-day meeting show the typical member of the Federal Open Market Committee now expects not to raise rates at all this year, an abrupt halt to what had been five consecutive quarters of rate increases to the current range of 2.25 to 2.5 percent. Most officials now expect a single rate increase in 2020 and none in 2021. In December, when forecasts were last released, Fed officials said they expected two rate increases this year and another in 2020.\u201d<\/span><\/p>\n

\"mortgage
Source: (Freddie Mac<\/a>)<\/figcaption><\/figure>\n

+ HomeLight\u2019s take:<\/b> The economy is in a \u201cgood place\u201d according to Jerome Powell, Chair of the Federal Reserve, but we shouldn\u2019t get used to it. The Fed\u2019s decision to stop hiking rates is a direct response to the slowdown in job growth, consumer spending, and business investments.<\/span><\/p>\n

+ CNBC,<\/b> Weekly Mortgage Applications Surge Nearly 9% on Lower Rates<\/a><\/strong>
\n\u201cMortgage applications jumped 8.9 percent last week from the previous week and 5.7 percent from a year earlier, according to the Mortgage Bankers Association\u2019s seasonally adjusted report.<\/span><\/p>\n

\u201cBoth refinance and purchase applications surged, but the more rate-sensitive refis were the real leader. Those applications jumped 12 percent for the week and were 8.5 percent higher than a year ago. For much of last year, the refinance market was minimal, down dramatically from 2017, as rates rose.\u201d<\/span><\/p>\n

+ HomeLight\u2019s take:<\/b> Buyers, remember to <\/span>find a top real estate agent<\/span><\/a> to help you find that home while rates are still historically low!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Spring has sprung! Time to open up the windows, enjoy the fresh air, and read another edition of HomeLight\u2019s Real Estate Recap.<\/p>\n","protected":false},"author":90,"featured_media":10163,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[320,334],"tags":[],"class_list":["post-10151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-add-value","category-news"],"acf":[],"yoast_head":"\nSpring into the Latest Housing Trends: March 2019's Real Estate Recap<\/title>\n<meta name=\"description\" content=\"Spring has sprung! 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