Why 2018 is a Great Time to Buy a Home
Jared Broussard • January 15, 2018
There are some common new year’s resolutions that tend to garner our attention this time of the year. Save money, get in shape, etc. This year there may be a new one to add to your list; buy a home. While this is an important goal to have no matter the time of the year, there are some other factors in 2018
that can make this an ideal time to seriously considering purchasing a new home. Here are a few reasons why this year should be your year.
Home Prices are Rising
Of course, the golden rule of the stock market is to buy low and sell high. As a homeowner and home seller, ideally, your house will also be worth more in the future. As a homebuyer, this means that a new home will cost more. 2017 finished with home prices growing at a rate of 5.5% year-over-year. Forecasts call for a more moderate 3.2% increase in 2018. So while prices are increasing, they are doing so at a slower rate. It also means that the sooner you purchase, the sooner you can partake in this equity growth.
Interest Rates are Going Up
It’s bound to happen eventually and the recovering economy, as well as other factors, mean that it will occur sooner than later. As interest rates begin to rise it will be more expensive to finance your new home. However, beginning from record low-interest rates means that the expected increases will still be very affordable. Last year a 30-year fixed rate mortgage
crept above 4% and is expected to hit 5% in 2018. So by shopping now and securing your rate, you can save thousands over the life of your loan.
Increased Competition
Of course, both of the aforementioned items are driven by the market. Simple supply and demand. Today more people are in a position to buy a home, meaning that there is a higher level of competition which will drive up prices. By beginning now you can have a leg up on this competition, saving you time and money down the road.
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The National Association of REALTORS® Board of Directors approved a 2026 budget with no dues increase and passed a Professional Standards Recommendation to clarify language in NAR Code of Ethics Standard of Practice 10-5, which prohibits harassment of any person or persons protected under Article 10 of the Code. A day earlier, the Executive Committee approved another Professional Standards change, revising language for Policy Statement 29 designed to ensure state and local associations can fairly and consistently enforce the Code of Ethics. Learn more about the changes. Read the revised Code of Ethics and Standards of Practice. Board members also approved a consent agenda to elect the 2026 officers and regional vice presidents . Christine Hansen of Ft. Lauderdale, Fla., was elected 2026 President-Elect, and Colin Mullane of Ashland, Ore. was elected 2026 First Vice President. The meeting opened with a video message from President Donald Trump, who welcomed REALTORS® to Washington and thanked them for support of the House-passed tax reform. NAR routinely invites the U.S. president to address REALTORS® at the Washington meetings. Over NAR's history, nine sitting presidents have addressed the association. Board Actions Approved a series of Finance Committee recommendations, accepting the association’s financial statement, approving the 2026 operating and advocacy budgets, and keeping dues at $156. The board actions also redirect $35 of the $45 Consumer Advertising Campaign assessment to operating funds. This change positions NAR to make its next settlement payment in February 2026 and maintain a balanced budget without raising total dues. The remaining $10 for the Consumer Advertising Campaign will fund optimized, metrics-driven activities that reach and engage consumers in critical markets. NAR CEO Nykia Wright and President Kevin Sears explained the shift at the opening session of the conference . Amended Standard of Practice 10-5 to give state and local associations greater clarity in how to fairly and consistently enforce Article 10 of the Code of Ethics. The amended Standard of Practice says that REALTORS®, in their capacity as real estate professionals, in association with their real estate businesses, or in their real estate-related activities, shall not harass any person or persons based on race, color, religion, sex, disability, familial status, national origin, sexual orientation, or gender identity. Made a series of recommendations to the Standards of Practice to bring the language in line with the terms of NAR’s 2024 settlement. Approved a motion to make one member of the Executive Committee a commercial practitioner who has served as chair, vice chair or liaison of an NAR commercial-related committee or forum to serve a two-year term and be independent of the 10% commercial representation requirement outlined in the NAR Constitution. Approved a recommendation from the Credentials and Campaign Rules Committee to amend qualifications for president-elect, first vice president and treasurer effective Jan. 1, 2026. Qualifications for top-line officers are now aligned with those already in place for regional vice presidents. Approved recommendations from the Member Accountability Committee related to applications for volunteer leadership and the Statement of Appropriate Event Conduct. The goal of the recommendations is to ensure members found in violation of the NAR Member Code of Conduct are properly disclosed. Award Winners NAR President Kevin Sears announced the 2025 Distinguished Service Award winners James P. Cormier , AHWD, C2EX, of Minneapolis-St. Paul, and Brooke S. Hunt , AHWD, E-PRO, SFR, SRS, C2EX , of Flower Mound, Texas. In addition, the group recognized the winner of the 2024 William R. Magel Award, Anne Marie DeCatsye , CEO of the Canopy REALTOR® Association and Canopy MLS in the Charlotte, N.C., metro area. REALTORS® Relief Foundation During the meeting, REALTORS® Relief Foundation President Greg Hrabcak appealed to board members to make a tax-deductible donation. The fund provides housing assistance to victims in the immediate aftermath of a disaster; 100% of funds donated go to disaster relief. “We’ve had devastating wildfires in California, tornadoes in Missouri and Kentucky and flooding in West Virginia, and we’re still in the first half of this year,” Hrabcak said. Before the meeting ended, directors had donated more than $41,000.
Whether you’re working in Baton Rouge, Shreveport, Lafayette, or anywhere in between, here’s how you can use Homeownership Month to elevate your real estate marketing and better serve your community.
Here are key insights and ready-to-use talking points to show your clients how homeownership is more than just a place to live—it's a smart strategy for long-term wealth building, especially right here in our state.
