Inventory will continue to be limited, as baby boomers remain in their homes while millennials seek to enter the housing market. As the Federal Reserve continues to design the much advertised “soft landing,” housing has become a focus of attention. Notions of a fall in the housing market continue to circulate in the market. Now, Goldman Sachs says the housing market could get worse next year.
The housing market is in the midst of a significant slowdown, but they vary when it comes to their forecasts of what this market correction will mean for U. Basically, it's a buyer's market for the most expensive homes and a seller's market for the most affordable homes. CoreLogic's Market Risk Indicator (MRI), a monthly update of the overall health of real estate markets across the country, predicts that Bremerton-Silverdale, WA, is at a very high risk (more than 70% likely) of falling home prices in the next 12 months. However, in this booming real estate market, it's hard for buyers to find a good deal, especially since the typical sales price increases by double digits.
And while a tight housing market may be enough to prevent a decline, the rapid deterioration in affordability and large declines in home sales suggest that a fall in housing is a real risk. They are also the generation most likely to use the Internet to find the home they ultimately buy and are most likely to use a real estate agent.