Housing markets nationwide are expected to have a slow 2019, which could be good news if you’re in the market for a new home.
Many of the country’s warmest cities are likely to see sales cool the most, according to an analysis from home trading platform Knock.com. In the firm’s second quarterly ranking of cities with the most price cuts, the top five cities were all located in the coastal Southeast, including three metro areas in Florida.
Nationwide, Knock predicts that about 75 percent of homes sold in the second quarter will go for less than their asking price. In the first quarter of 2019, the actual discount rate came out to 72 percent. Last year, 62 percent of home sales went for less than their asking price, with a higher discount rate in the winter months (nearly 70 percent) and a lower rate in the summer (55 percent).