Recovery Slows, but Remains Steady
It may feel as if the housing recovery is slowing to certain finality, but its overall health is still improving. Existing home sales have been declining monthly and new homes starts have fallen flat – but year over year, the local housing market is still showing growth. As we see areawide increases in price cuts and accessibility begins to improve, the market will continue to strengthen as affordability constraints ease up, even as mortgage rates continue to rise.
The Transition to a Buyer’s Market
Surges in both mortgage rates and demand, coupled with a lack of supply, brought steady hikes in sale prices in 2018. While 2019 will continue to bring healthy growth, home value increases will stabilize, making…