By Amy Dobson | Forbes
All signs are pointing towards a shift away from the tight seller’s market we have been in for years to one that gives buyers a little more negotiating power. Price growth has started to stall, inventory is increasing and if you look at data from a variety of real estate tech firms, their data start to reflect similar trends. Redfin agents saw a large decrease in bidding wars for their clients, going from 61% in March of 2018 to only 16% for March of 2019; the ShowingIndex by the home showing booking firm ShowingTime indicates a slowdown; and according to Zillow, March 2019 was the seventh straight month of inventory gains, which hasn’t happened since 2014. Even the stalwart markets in Silicon Valley have seen a shift and a completely different set of cities are considered the ‘hot markets’ this spring.
The biggest question on everyone’s mind is where the markets are slowing down the most so the good deals begin to surface before any of the other cities. There are two places to look first to get a sense of where the markets are heading.