Real estate is about location. From neighborhood to neighborhood, conditions may differ. Pricier neighborhoods will have different dynamics than more affordable areas. Hot spots that offer home buyers features and amenities will have different conditions than less popular areas farther from the action.
That’s why most people work with real estate professionals when buying or selling a home. It’s advantageous to work with someone who has expertise in the specific parts of town you’re interested in. But that’s not to say you can’t have a general sense of where the market is headed.
Take the most recent forecast from Freddie Mac, for example. The outlook says, though the housing market will slow down this fall and winter, high demand for homes will mean more sales and competition next year. It also says home price growth will begin to slow next year. Overall, according to Freddie Mac’s outlook, home buyers and sellers should expect next year’s market to look relatively similar to this year’s.