In spite of the thriving US economy, home sales have seen a national decline (down 15.2% for detaches homes, 18.5% for attached) beginning late last year due to high prices and rising interest rates. Attached homes have experienced over a 44% surge in days on the market, and that number leaps to 81% for detached houses.
Early signs in 2019 point to an improving situation, thanks to increased inventory as motivated sellers attempt to gain a head start on their annual goals. If interest rates hold steady and appreciation of home prices align with wage growth, affordability and consumer confidence are likely to see a boom.
Check out the full report HERE.