First things first: the housing market is still strong, according Daniel McCue, senior research associate at Harvard University's Joint Center for Housing Studies. But a housing shortage has led to big competition and higher prices, bringing down affordability, and generally putting a slowdown on the speed of the market. So If you’re planning to buy or sell this year, here are 2 the main takeaways:
1. Home Sales Are Slowing
The number of home sales has been steadily falling. It could be due to a small inventory, an increase in prices, and the intense home buying competition that goes along with that. The decline was most notable at the end of 2018, when the mortgage interest rates increased.
The amount of homes for sale is rising now, but sales are