As home prices increase, we are finally seeing demand cool A BIT. It is still strong, however, because of low inventory. This is an excellent time to sell because you can still get top dollar. However, a lot of people are wondering when they should buy. The experts agree that this is the time to buy as well. With low interest rates, your purchasing power will get you into a more expensive house than if rates increase. Also, the prices of houses are cooling off a little bit. No expert in the industry is forecasting prices falling. So this is the bottom before normal appreciation begins.
We are seeing 7 cities moving in favor of a Seller's Market (green arrows) and now are JUST STARTING to see 10 cities moving in favor of Buyers (red arrows).
This does NOT mean prices will fall. It means that no more fuel is being added to the rocket that is taking price higher over the coming months. It still has a massive amount of fuel already on board. But as prices rise, demand should fall and gradually bring us back to some semblance of normalcy.