We’ve all heard the news this year: the United States housing market is doing exceptionally well. This has been music to the ears of many homeowners and even to buyers and sellers. The current state of the market has encouraged tremendous growth in many US cities and has delighted homeowners who have seen their property values all but skyrocket. However, despite all of this wonderful news for homeowners, many city markets have begun to show signs of serious cool down in the winter market. Homeowners and potential buyers and sellers need not worry terribly, the housing market often significantly slows down during the winter months due to many factors such as holidays, busy work and home schedules, and many other reasons.
What does this cool down mean for the United States housing market? This expected cool down could mean a decrease in home sales and in the number of homes placed on the market. There are many speculations as to why the market may cool down other than the usual winter season. Among the biggest reasons is what many are calling “price fatigue.” Homebuyers could not keep up with the continually increasing home prices and are beginning to decline making offers on homes whose price lines are less flexible. On a brighter note, the cool down of the market could mean good news for homebuyers who have been victim of the “price fatigue.” The cool down of the market will encourage more flexibility in homes’ pricing and will help home shoppers who could not gain the home of their dreams in the fast-paced hot markets.
Many city markets in the United States are expected to cool down, but this shouldn’t be a cause for worry. The slower markets will be beneficial to many home shoppers and will give busy realtors a bit of a break from the hustle and bustle of the market. However, these expectations could always change with differences in the national financial market and even how bad the winter is. Overall, the market still holds promise for homeowners and shoppers as the state of the market holds strong.
By Alexis Breitkreutz, an analyst for Move New Homes