Realtor.com is a reputable news site that brings you factual reports on the housing market. One of their reports touches base on the 2019 Housing Market and the predictions for this year.
Home Prices Are at an All-time High!
According to relator.com’s recent news report, the housing market is continuing to slow down. Currently, house prices are increasing even with the slowing of the housing market.
Median list prices have already surpassed 300,000. This is a drastic increase compared to the last couple of years. In the same month, prices increased to about 7.2% more than the year before.
According to Danielle Hale, a widely known and respected chief economist for realtor.com, stated in worry, “Prices are continuing to rise and they’re going to get higher,”.
Why Are They Rising?
A question on everyone’s mind now is, why? If the housing market is slowing down, why are prices rising so dramatically? Although prices in some area are rising, they are also falling in other regions in the United States.
The prices are increasing because the market is calm. New house sellers understand that there is potential for a housing market rise. A prediction that was brought up a lot for 2019, is the potential increase in the housing market.
An area that has now seen a dramatic jump in prices is, Milwaukee. This area has seen a shortage of homes in the area, meaning there is a high demand for buyers. The growing city is attracting people nationally, and do not have enough houses, increasing the prices.
Why Are They Falling?
The housing market is both increasing and decreasing. Prices are fluctuating rapidly. In some areas of the United States, including; California, Texas and Florida, prices are falling. In these areas there are more sellers than there are buyers, meaning there is more competition. In order to grab people’s attention, sellers and decreasing their prices.