High prices of homes in recent years has been favoring sellers, making it challenging for buyers to negotiate prices and even compete with aggressive (sometimes even cash) buyers. All that may be changing in the next couple of years though.
In a recent survey conducted by real estate website Zillow and research firm Pulsenomics, an expert panel of more than 100 economists, investment strategists, and real estate market analysts were invited to share their views on the U.S. housing markets. The study focused on when the housing market will shift to favor home buyers, the probability that the ongoing economic expansion will set a new record, and what mortgage rates will look like one year from now and at the business cycle peak.
According to the study, we should begin to see a shift in housing supply and demand favoring a buyer’s market beginning in the Midwest by as early as 2019 with the rest of the country trailing closely behind by 2020.
The U.S. Housing Confidence Survey™ (HCS) is the first scientific survey developed to facilitate systematic measurement and reporting of consumer confidence in the U.S. housing market.
For more information on the U.S. Housing Market, go to Pulsenomics.com
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