Hot Housing Market Could Cool in 2018
Homes sales could slow in 2018! Why? As home sellers have had the upper hand with buyers over prices for many past years so, in 2018 it might at least be more of a fair fight. The rises in cost and tax law changes discourage many home buyers as many of them put their homes up for sale. Due to this situation the nation’s hot housing market could cool off next year. The shift in bargaining power won’t be dramatic. Economists say, many of the hottest housing markets on the West and East Coasts will continue to see sturdily rising prices. However, the pace of the run-up will likely slow as a market that has long favored sellers evens out somewhat. Chief Economist of the National Association of Realtor says, “Existing home sales will possibly not make improvements in 2018 even as the economy generates more jobs. After the rise of 6.3 %, 3.8 % and 2.7 % respectively the current home sales are projected to be unchanged at about 5.6 million. Yun predicts, the median home prices will ed...