Home price growth has slowed and now more closely matches income and wage growth – a healthy development.
Despite strong buyer demand, sales totals are lower due to a lack of affordable supply
“While perhaps we won’t match the growth in the market seen over the last few years, stability and sustainability are the primary objectives.”
“Buyers are beginning to return in force this Spring. For well-priced homes in desirable locations, competition is fierce.”
“In addition to the quandary of ongoing housing price increases and affordability concerns in many U.S. markets, the first quarter of 2019 saw a fair share of adverse weather as well.”
Housing markets have proven to be resilient despite predictions of more challenges this year for housing.
“Despite a strong U.S. economy, historically low unemployment and steady wage growth, home sales began to slow across the nation in late last year.”
Home prices rose steadily throughout 2018, even as sales activity was in fluctuation compared to 2017 levels.
“Housing is still relatively affordable.”
“A trend of market balance is emerging as we approach the end of 2018.”