We have two reports that have recently come out that show the market could be in a shift. And what we mean by that is that we've had this huge frenzy, right? But here's a couple of studies that kind of back up the fact that a lot of you in a lot of markets are starting to report.
You're seeing the market not be quite as intense as it's been, not quite the frenzy.
So here's the reports that we have:
The first one shows that the share of consumers who hope to buy a home in the next six months went from 34% a year ago to just 21% this year.
So people are starting to have some definite fatigue and resistance to pricing that's out there.
And related to pricing, which kind of goes right along with that study, is a new study that shows that even though we're still posting double digit gains in most areas, the rate of price growth is beginning to slow.
When we look at this, it's the second time it's happened in 13 months. And again, it's showing that buyers are pulling back a bit, level of intensity slowing down, and sellers are noticing. So they're adjusting pricing just a bit.
Now we might see this accelerate and have the market begin to shift even more. And might start to see more inventory rising.
I'd love to hear your comments about what you're seeing in your local markets. Love to see that down below.
Is it slowing as it speeding up? Is it about the same as it's been over the last six months?
Love to know what's happening where you're at.
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