{"id":2133,"date":"2019-02-20T05:00:40","date_gmt":"2019-02-20T11:00:40","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/why-a-normal-market-is-just-what-we-need\/"},"modified":"2019-02-20T05:00:40","modified_gmt":"2019-02-20T11:00:40","slug":"why-a-normal-market-is-just-what-we-need","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/why-a-normal-market-is-just-what-we-need\/","title":{"rendered":"Why A Normal Market is Just What We Need"},"content":{"rendered":"

\"Why<\/p>\n

The housing market has been hot for a while now. Homes have been flying off the shelves as fast as they have been listed. Buyers have been competing in bidding wars just to find a home to buy, let alone find their dream home.<\/p>\n

<\/span><\/p>\n

This \u2018seller\u2019s market\u2019<\/em> has driven home prices to new heights. Home price appreciation averaged over 6% across the country.<\/p>\n

However, home price growth has recently started to cool down. The latest report<\/a> from CoreLogic <\/em>shows that home prices have only risen by 4.7% over the last 12 months.<\/p>\n

Many buyers and sellers planning to enter the housing market this year have started to wonder if we are headed towards another housing crash. Ralph McLaughlin, Deputy Chief Economist at CoreLogic<\/em>, recently stated in an interview<\/a>,<\/p>\n

\n

\u201cThere\u2019s no reason to panic right now, even if we may be headed for a recession. We\u2019re seeing a cooling of the housing market, but nothing that indicates a crash.<\/em><\/p>\n

The real elephant in the room here is housing supply.\u201d<\/em><\/strong><\/h4>\n<\/blockquote>\n

The simple answer is we are returning to a \u2018normal\u2019<\/em> market. The inventory of homes for sale more closely matches the demand in the market. The added supply means fewer buyers are outbidding each other. Therefore, prices are experiencing less upward pressure. McLaughlin went on to explain,<\/p>\n

\n

\u201cIf there are a lot of homes on the market and suddenly no one wants to buy them, you\u2019ll get into a downward spiral of price competition. Right now, however, we\u2019re in the opposite situation, there isn\u2019t an over-abundance of homes on the market.\u201d<\/em><\/p>\n<\/blockquote>\n

As more renters looking for their piece of the American Dream enter the housing market, demand for housing will continue to grow. The Joint Center for Housing Studies at Harvard University<\/em> estimates over 30 million new households will enter the market from now through 2040.<\/p>\n

\n

\u201cThere\u2019s the natural life cycle of young people getting older and starting to do adult life things which include \u2026 buying a house and that\u2019s a lot of potential inertia that could last indefinitely.\u201d<\/em><\/p>\n<\/blockquote>\n

Bottom Line<\/strong><\/h3>\n

Home prices will start to appreciate by historical norms as we continue to head towards a more \u2018normal\u2019<\/em> market, rather than the over 6% seen over the course of the last couple of years. This is great news! Homeowners looking to sell their home will have buyers, as more buyers will be able to afford them!<\/p>\n

Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"

The housing market has been hot for a while now. Homes have been flying off the shelves as fast as they have been listed. Buyers have been competing in bidding wars just to find a home to buy, let alone find their dream home. This \u2018seller\u2019s market\u2019 has driven home prices to new heights. Home […]<\/p>\n","protected":false},"author":1,"featured_media":2134,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-2133","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"\nWhy A Normal Market is Just What We Need—NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/why-a-normal-market-is-just-what-we-need\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why A Normal Market is Just What We Need—NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"The housing market has been hot for a while now. Homes have been flying off the shelves as fast as they have been listed. Buyers have been competing in bidding wars just to find a home to buy, let alone find their dream home. This \u2018seller\u2019s market\u2019 has driven home prices to new heights. 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