Not too Hot, Not too Cold
Mounting home prices have proven to be a golden ticket for sellers in recent years, much to the disadvantage of buyers. Today, home values continue to rise across the country, but at an increasingly slower pace. This is good news for both sellers and buyers.
Just Right
Sellers still have rising home prices on their side, but the tempering in price growth is making homes more accessible for buyers, thereby creating a more balanced market.
April Unemployment Fell to Lowest Level in 50 Years[2]
Consumer confidence rebounds to near-18-year high[3]
Solid job and wage growth, coupled with high consumer confidence, will continue to bolster strong housing market activity.
New home sales fell 6.9% in April, which, at face value, seems like a significant blow to the housing market. But a closer look at the data indicates things aren’t as bad as that number might indicate.
Sources:
[1] Federal Housing Finance Agency (FHFA) U.S. House Price Index Report, Q1 2019.
[2] Bureau of Labor Statistics, U.S. Dept. of Labor, Employment Situation Summary, April 2019.
[3] The Conference Board, Consumer Confidence Survey®, May 2019.
[4] U.S. Census Bureau, Monthly New Residential Sales, April 2019.