The consensus outlook for the U.S. economy continues to be optimistic for the remainder of 2018 and full year 2019. Real GDP is projected to grow 2.9% and 3.1%, respectively, for the 4th Quarter 2018 and all of 2019—this compares favorably to 2.2% in 2017. Unemployment is forecasted to remain below 4% through 2019. Existing home sales, while lower than the past two quarters, are thought to improve to $5.4 million in FY 2019. The housing market will face some headwind from rising mortgage rates and existing home sales prices.
Continue reading Ponte Vedra Beach Market Update - Winter 2018.