Sorry, buyers: Survey says market won’t go your way until 2020

Inventory has dropped year over year for 42 consecutive months

National /
Aug.August 28, 2018 11:30 AM

(Credit: Getty Images)

Buyers will have to wait another two years for the market to go their way.

A survey of economists conducted by Zillow and Pulsenomics found that the real estate market won’t favor buyers until 2020, Inman reported.

“For the past several years, home sellers held all the cards at the negotiating table, fielding multiple offers while buyers faced stiff competition and a fast-moving market,” said Aaron Terrazas, Zillow’s senior economist. “Conditions are starting to show signs of easing up, but the effects of years of limited construction still linger.”

Nationally, home value appreciation has been faster in 2018 than in 2017, and inventory has declined on a year-over-year basis for 42 consecutive months. Though in some markets these trends have eased, prices remain high and home values are expected to rise another 5.9 percent this year, according to Zillow. [Inman] — Kathryn Brenzel


Related Articles

arrow_forward_ios
Steven Mnuchin and 740 Park Avenue (Getty, Google Maps)
Steven Mnuchin’s $26M home finally finds a buyer
Steven Mnuchin’s $26M home finally finds a buyer
Robert Millard and 9 East 88th Street (MIT Corp, Google Maps)
Former Lehman exec lists Carnegie Hill mansion for $38M
Former Lehman exec lists Carnegie Hill mansion for $38M
April’s occupancy levels climbed to 61.6 percent, above March’s 60.9 percent. (iStock)
Demand for short-term rentals surges past pre-pandemic levels
Demand for short-term rentals surges past pre-pandemic levels
Cape Cod and the Jersey Shore suffered among the sharpest inventory declines. (iStock)
Here’s where homes virtually sold out in the pandemic
Here’s where homes virtually sold out in the pandemic
1384 Meadow Lane
The 20 priciest Hamptons sales this year
The 20 priciest Hamptons sales this year
Airbnb CEO Brian Chesky. (Airbnb, Getty)
Airbnb’s losing spree continues with $1B loss in Q1
Airbnb’s losing spree continues with $1B loss in Q1
Madison Realty principal Josh Zegen, Raphael Toledano with the properties at 325-329 East 12th Street and 223-235 East 5th Street (Madison Realty, Google Maps, Toledano by Michael McWeeney)
Madison Realty Capital closes on Toledano’s bankrupt East Village portfolio
Madison Realty Capital closes on Toledano’s bankrupt East Village portfolio
Manhattan and Brooklyn saw all-time records in lease signings in April (iStock)
April leases soared across city; so did concessions
April leases soared across city; so did concessions
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...