Credit: Shutterstock photo(New York)
We have been keeping a close eye on the US real estate market, as prices have been rising quickly and city-center affordability seems to have completely evaporated. A new bit of sentiment data has been released which may shed light on the direction of the market. For the first time in a decade, Americans think it is a better time to sell a home than it is to buy one, a stark shift from what was seen as a buyer's market during the recession. Home prices are rising at 6% a year and inventory is tight, which may be proving a serious influence on buyers' moods.
FINSUM : Our view on the real estate market is that high end property will stagnate or weaken, while the low end of the market will remain strong. This view is based on the fact that Millennials are starting to buy homes (keeping the lower end strong) while Baby Boomers are reaching their later years and there is less demand at the top.
- US
- real estate
- property
- bearish
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
