Residential Real Estate Trends For 2018

Residential Real Estate Trends For 2018
 The Fairfield Team 12/6/2017 6:00 AM

Last year’s real estate trends in Omaha, Nebraska, included a slowing market, an above-average level of appreciation, fewer homes, fast-moving markets, and some higher mortgage rates. We’re nearing the end of 2017 and what can we expect with the New Year?

The absolute biggest factor working in Omaha’s favor is affordability. Homeowners in the area have gotten used to spending about 6.6% of their income on monthly mortgage payments, as opposed to the 15.1% national average. FortuneBuilders.com notes that:

“It is that same affordability that makes Omaha real estate investing and homeownership more attractive to first-time buyers. In the face of rising rents; loosening mortgage restrictions; the threat that higher interest rates really are around the corner; and better career prospects, first-time buyers are expected to become a major player in the Omaha housing market. It is this market that has experts excited about Omaha real estate. A new analysis by online real estate site Trulia shows Omaha-Council Bluffs among the Top 15 “fastest-moving” markets.”

An additional factor working in the Omaha market’s favor: the distressed market. The overwhelming majority of these distressed properties are pre-foreclosures, with auctions and bank-owned foreclosures rounding out the rest. But each of these scenarios provides great deals for Omaha real estate investing.

One last factor (and this one shouldn’t come as a surprise to anyone who reads our blog regularly) that affects the Omaha market is the revitalization and new building that’s happening around Omaha.

If you’re looking for more information about buying a home in Omaha, please check out our recent blog posts:

If you’re ready to take the leap into homeownership in 2018, give The Fairfield Team a call!