Housing Markets Expected To Slow Down In Cold Months
It is about time you search for your dream home. According to reports, houses in the US market have been selling like hot cakes in the last six months. However, the sales pace have been starting to slow down and as a matter of fact could decelerate further when winter season come. The competitive markets in Denver, San Francisco, Boston and Seattle have recorded historically slow down in the winter. This is quite good news for weary buyers in the market.
Home sales are considered to be very strong in most major markets. Around 60 percent of the homes that were listed in the market last June still are holding the “for sale” sign up last month. This is a slight increase from summer of last year. According to analysts, this could be due to the price fatigue experienced by buyers in the property market. Homebuilders and real estate agents say that there are more home buyers that balk at higher prices rather than get in frenzy bidding wars.
A real estate agent said that the property sector indeed say a cool off of buying spree towards the end of July. People are now starting to anticipate of the rising housing prices and tend to shy. Part of the slowdown in sales can also be attributed to the sales agents who are not used to the bulk of the demand.
One market analyst commented that real estate agents were so busy and were obviously swamped with demands pouring in constantly in that they could not keep things going. A lot of agents were holding people back.
The property market that moved the fastest were the ones that experienced the greatest price jumps in particular in California. Among those in the top 10 fastest growing market are Denver, Cambridge, Seattle, Massachusetts, Florida and Salt Lake City. With cold months fast approaching, market analysts noted that these regions that were the fastest growing market also will experience the slowest pace of growth during the winter season. This trend has been going on for years and is expected in the next few months.