Amid a thriving economy, the nation’s housing market remains strong, with home values rapidly rising and for-sale inventory diminishing. But some of the largest markets began experiencing a slowdown this summer as rising interest rates and surging home prices have made it difficult for some potential buyers to keep up.
By July, inventory had perked up in a handful of the nation’s most competitive markets, giving those buyers more options and a bit of much-needed breathing room.2
Whether that breathing room is just a pause or the earliest signal of an emerging buyers market will determine the extent to which buyers and sellers and their partner-agents recalibrate strategies to adapt to changing realities.
The Zillow Group Consumer Housing Trends Report 2018 shows how Americans are adapting to a time when — despite signals of a coming shift — home inventory nationwide remains low and year-over-year appreciation in home values is still historically high.