Homebuyers and investors who remain patient in 2019 could see some handsome rewards, according to a leading real estate website. The site surveyed real estate economists who estimate the housing market will switch from a seller’s market to a buyer’s market by 2020. The economists surveyed forecast supply will outpace demand, which gives investors and prospective homebuyers a chance to negotiate lower prices. The trend could start to take shape by middle to late 2019. Here are some more trends that could take shape in 2019.

Rising Mortgage Rates
With the Federal Reserve continuing its trend of raising the benchmark interest rate, economists believe mortgage rates will follow suit. The 10-year Treasury, which is the rate many real estate analysts use to track mortgage interest rates, maintained a steady rise throughout 2018. If the trend continues in 2019, which many analysts suspect it will, mortgage interest rates will follow suit. Some in the industry predict mortgage rates could hover around 6 percent by the end of the year.

New Construction Will Rise
Demand continues to outpace supply in 2018. However, many economists speculate that new construction will highlight most of 2019. This is not to say 2019 will see a reversal in the current supply and demand cycle. New construction is starting to ramp up slowly, which means it will take a little time for supply to outpace demand. As previously mentioned, many real estate experts predict the trend will shift in 2020.

Millennials and Homeownership
In the past, Millennials were known as a generation of chronic renters. Today, that mindset is starting to change as more Millennials want to buy homes. Many in the generation are starting to plant roots and settle down, and this trend could help home sales throughout 2019. For investors, it may be time to consider selling in 2019 as more Millennial buyers enter the market. With the rise in housing prices starting to taper off, 2019 could be the year investors start taking some of their profits.

One thing is certain about the real estate market or any other market, they fluctuate. However, with a strong economy and a rise in new home construction, demand for housing should remain strong throughout 2019. If mortgage rates continue to rise throughout 2019, it could put a damper on some homebuying decisions, so 2019 could also be the year to sell.