4 factors to watch for this homebuying season

Last summer was the most competitive homebuying season of all time, and credit unions are preparing for more action in 2019.

Homes for sale sat on the market for only 54 days in June 2018 — an all-time low according to data and analysis from realtor.com.

For lenders hoping to recapture that lightning in a jar, Bob Dorsa, co-founder and president of the American Credit Union Mortgage Association(ACUMA), says the 2019 homebuying season might be different.

“The glass is half full, not half empty,” Dorsa says. “But things will be more difficult.”

Several economic factors will weigh heavy upon credit unions that offer mortgages — which was approximately 57% of the industry at third quarter 2018, per 5300 Call Report data — including the potential for additional rate hikes, a lack of housing supply, and a continued war for talent.

 

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