Status of home prices

As you all know U.S.home prices spike over the last year and is continuing to set records. Annual appreciation was up 17.7 percent year over year in August but the good new is home prices will not come crushing down any time soon, but the growth will finally be gearing back towards normal level again means prices will going to rise less quickly now showing signs of cooling. For the first time since January, home price appreciation slowed in August from the previous month, just appreciating 1.75 percent from July, in contrast to the 1.97 percent growth seen between June and July.

Mortgage rates

On the mortgage side rates should remain relatively low in the fall as the future predict things become more transactional friendly on both the real estate and mortgage side.

Inventory

There is a decrease or stability shown in seasonally adjusted prices in August for the first time from February, but Inventory will stay low by historical standards not coming anywhere close to where it was in 2019 as more millennial are maturing to their prime homebuying years and there are not just enough houses for everyone to have. So as there is not much new inventory adding in market because of high construction cost supply will be tight with high demand and increase prices.

Rental market

There are buyers who were sitting and waiting for market to go down they gave up on rising real estate market may continue their search for buying home as the rents are going up.

Fall season market

By studying this year market coming fall season is going to be one where there will be lot of people looking for same thing which will make seller setting unrealistic aggressive price on their home.