The housing market is inevitable with changes. Rotating figures and inconsistencies are hard to stay abreast. We have done the research for you and offer the latest trends in real estate no matter whether you are a buyer or seller.
June is proving to be a standstill month. Ready buyers took advantage of low interest rates and bought available homes in May which recorded the highest number of listings in four years. But times are changing. Now there are few homes on the market.
And once eager buyers are now stalling. Homes sold were down 10 percent. The low inventory of homes has frustrated geared up buyers. With fewer homes on the market buyers are not as keen to dig deep in their pockets. They are either sullen with high prices or too tired to keep looking.
Home prices are stabilizing since the peak in 2012 when they were increasing on average of 20 percent. This is good news for buyers. Across the country the housing market is shifting from a sellers’ market. Buyers have more power and less competition. Of course this varies region to region. In Los Angeles, for example, the market has shifted to favor buyers where they are able to find their home and have their offer accepted too.
More district incentives need implementing. The solution is job expansions, higher wages, and inventory increases to attract traditional buyers.