{"id":11374,"date":"2018-09-04T13:38:41","date_gmt":"2018-09-04T19:38:41","guid":{"rendered":"https:\/\/www.virtuance.com\/?p=11374"},"modified":"2018-09-04T14:08:12","modified_gmt":"2018-09-04T20:08:12","slug":"sellers-market-says-zillow","status":"publish","type":"post","link":"https:\/\/staging.virtuance.com\/member\/blog\/sellers-market-says-zillow\/","title":{"rendered":"Sellers still rule \u2014 for 2 years, says Zillow"},"content":{"rendered":"
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It won’t be a buyer’s market until 2020, but home price growth has slowed in more than half of the nation’s largest metros, according to the study<\/h2>\n

By Patrick Kearns | Source Inman<\/a><\/p>\n

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The industry may not see a buyer\u2019s market until at least 2020, according to a majority of real estate economists surveyed by\u00a0Zillow<\/a>\u00a0and Pulsenomics LLC.<\/p>\n

In the real estate technology company\u2019s latest \u201c2018 Q3 Zillow Home Price Expectations Survey,\u201d more than 75 percent of approximately 100 economists surveyed predicted the market won\u2019t favor buyers until 2020 at the earliest.<\/p>\n

\u201cFor the past several years, home sellers held all the cards at the negotiating table, fielding multiple offers while buyers faced stiff competition and a fast-moving market,\u201d said\u00a0Aaron Terrazas<\/a>, Zillow\u2019s senior economist. \u201cConditions are starting to show signs of easing up, but the effects of years of limited construction still linger.\u201d<\/p>\n

\u201cInventory is still falling on an annual basis, and home values are growing well above their historic pace,\u201d Terrazas added. \u201cAlthough these trends are starting to lose their edge, it is far too soon to call it a buyer\u2019s market.\u201d<\/p>\n

Home value appreciation<\/a>\u00a0has been faster in 2018 than in 2017, according to Zillow\u2019s data. Inventory has also dropped on a year-over-year basis for 42 consecutive months \u2013 signs that the market is firmly in favor of sellers.<\/p>\n

Home growth is slowing in more than half of the nation\u2019s 35 largest metros, with price cuts becoming more common. Even in markets where appreciation has slowed,\u00a0prices remain high<\/a>\u00a0and sellers continue to have the upper hand, according to Zillow. Home values are also expected to rise an additional 5.9 percent in 2018, according to the data.<\/p>\n

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While more than 75 percent of respondents believe a buyer\u2019s market won\u2019t emerge until 2020 at the earliest, 43 percent of respondents believe the market will shift towards buyers in 2020. Regionally, economists believe the\u00a0Midwest<\/a>\u00a0will start to favor buyers before other regions.<\/p>\n

\u201cWhile ongoing supply constraints are reinforcing the floor on home prices right now, the experts\u2019 forecasts still imply the joists will start to crack sometime next year, and result in sub-three percent annual home-value appreciation in 2020 and beyond,\u201d said Terry Loebs, the founder of Pulsenomics LLC, the research and economists firm that conducted the Zillow sponsored the survey.<\/p>\n

\u201cFor the first time, a majority of the experts said that there is downside risk to their long-term outlook for home values nationally \u2013 and they outnumber experts who assigned upside risk to their forecasts by more than a three-to-one ratio,\u201d Loebs added.<\/p>\n<\/div>\n<\/div>\n

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It won’t be a buyer’s market until 2020, but home price growth has slowed in more than half of the nation’s largest metros, according to the study By Patrick Kearns | Source Inman The industry may not see a buyer\u2019s market until at least 2020, according to a majority of real estate economists surveyed by\u00a0Zillow\u00a0and […]<\/p>\n","protected":false},"author":14503,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4,47],"tags":[],"_links":{"self":[{"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/posts\/11374"}],"collection":[{"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/users\/14503"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/comments?post=11374"}],"version-history":[{"count":2,"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/posts\/11374\/revisions"}],"predecessor-version":[{"id":11386,"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/posts\/11374\/revisions\/11386"}],"wp:attachment":[{"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/media?parent=11374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/categories?post=11374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/tags?post=11374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}